Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.11%) is tied with the Nasdaq Composite for first place on Thursday afternoon, down about 7 points.

Briefly, S&P 500 constituents Tapestry (TPR 97.99, -15.54, -13.69%), Enphase Energy (ENPH 31.83, -2.39, -6.98%), and The Trade Desk (TTD 50.67, -3.69, -6.79%) are some of the worst laggards in the average. TPR slides after issuing FY26 guidance that called for stronger Coach growth but continued Kate Spade weakness and significant profit headwinds from tariffs, surprising investors who had grown accustomed to upbeat outlooks, ENPH's weakness is driven by mounting regulatory uncertainty -- specifically, the expected tightening of tax credit eligibility that could strip key subsidies from many planned solar projects, while TTD falls after reports that Walmart (WMT 101.12, +0.13, +0.13%) ended its exclusive ad-buying tech arrangement with the company, opening the door for rivals and potentially eroding one of Trade Desk's key advantages against Amazon (AMZN 232.70, +8.14, +3.62%), amid concerns over Walmart's dissatisfaction with its fees.

Meanwhile, Texas Pacific Land Trust (TPL 920.37, +37.98, +4.30%) is today's top performer.