Stock Market Update
28-Jan-26 11:00 ET
Major averages now flattish
Dow +18.20
at 49020.40,
Nasdaq +35.12
at 23852.24,
S&P +4.96
at 6983.55
[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (+0.1%), and DJIA (flat) are now defending their unchanged levels.
After a solid opening gain, the consumer discretionary sector (-0.1%) has slipped into negative territory.
Tesla (TSLA 433.16, +2.26, +0.52%) still trades modestly higher ahead of its earnings after the close, though Amazon (AMZN 242.98, -1.70, -0.69%) now lags. CNBC reports that the company is looking to lay off around 16,000 workers.
Elsehwere in the sector, Starbucks (SBUX 98.60, +2.88, +3.01%) holds a solid gain despite falling short of Q1 earnings expectations, as investors focus on the company's encouraging efforts to reignite growth. After several years of sluggish performance, the results provide a strong validation of the "Back to Starbucks" plan, with global comparable store sales accelerating to 4% growth, building upon the 1% momentum seen last quarter.
Meanwhile, Carvana (CVNA 438.89, -38.83, -8.13%) is the worst-performing S&P 500 name today despite a dearth of corporate news.
