Stock Market Update
22-Aug-25 14:30 ET
S&P 500 jumps 99 points, but tech and homebuilders steal the show on rate cut hopes
Dow +849.54
at 45635.04,
Nasdaq +416.79
at 21515.71,
S&P +99.03
at 6469.20
[BRIEFING.COM] The S&P 500 (+1.55%) is up 99 points this afternoon, but with more aggressive gains elsewhere those marks are only good enough for third place.
Briefly, S&P 500 constituents Enphase Energy (ENPH 38.00, +3.42, +9.89%), Builders FirstSource (BLDR 143.89, +10.67, +8.01%), and Mohawk (MHK 133.09, +8.92, +7.18%) pepper the top of the standings. Rate-sensitive solar stocks, like ENPH, move higher today on the prospect of a rate cut in September becoming more likely, with BLDR and other homebuilders moving higher as the prospect of rate cuts from the Fed could translate into better demand for mortgages and, by extension, new homes.
Meanwhile, Intuit (INTU 662.99, -34.77, -4.98%) is at the bottom of the average as some called the FY26 guidance conservative.
