Stock Market Update

[BRIEFING.COM] Despite a decrease in sector strength, the S&P 500 (+0.2%), Nasdaq Composite (+0.4%), and DJIA (+0.1%) trade in a relatively steady range. 

Strong leadership from the top-weighted information technology sector (+0.7%) keeps things stable at the index level despite the broader market now leaning lower. 

Seagate Tech (STX 433.65, +61.89, +16.65%) delivered a record-breaking conclusion to calendar year 2025, clearing a high hurdle as investor expectations were sky-high heading into the print. While STX is known for guiding conservatively, its 3Q26 guidance for revenue and earnings easily topped consensus, signaling sustained momentum in the high-capacity storage market. STX reported a record non-GAAP EPS of $3.11, a 19% sequential increase, and set a new company record for non-GAAP gross margin at 42.2%. These milestones were driven by the execution of a disciplined pricing strategy and an improving mix of high-capacity drives.

Other memory storage peers such as Micron (MU 425.83, +15.59, +3.80%) and Western Digital (WDC 271.25, +18.59, +7.36%) also post solid gains in sympathy.