Stock Market Update

[BRIEFING.COM] The indices are continuing to trade in a lateral channel close to their lows for the session. The Dow Jones Industrial Average (-1.4%) is the worst in show today in terms of the percentage decline.

Notwithstanding today's loss, the Dow Jones Industrial Average remains positive for the year (+3.5%), but it has now slipped below the market-cap weighted S&P 500 (+3.7%) and the equal-weighted S&P 500 (+3.7%) in year-to-date performance.

Walmart (WMT 97.09, -6.91, -6.6%) is the biggest percentage loser in the Dow today, but Goldman Sachs (GS 632.22, -35.93, -5.4%) and JPMorgan Chase (JPM 266.89, -12.36, -4.5%) are the biggest point losers.

The latter two stocks are pacing a poor showing from the financials sector (-2.0%), as today's selling interest has a footprint of some momentum trade unwinding. Entering today, the S&P 500 financial sector was up 7.6% for the year, making it the best-performing sector in 2025. That distinction now belongs to the energy sector (+7.2%).