Stock Market Update
01-Oct-26 12:30 ET
Paramount Skydance lags after announcing merger date target
Dow -49.32
at 50856.64,
Nasdaq -31.39
at 26850.71,
S&P -4.03
at 7647.61
[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (-0.1%), and DJIA (-0.1%) are recovering from session lows and approaching their flat lines just after midday.
Paramount Skydance (PSKY 9.62, -0.72, -6.92%) is the worst-performing S&P 500 component today as investors digest news that its merger with Warner Bros. Discovery (WBD 30.94, -0.02, -0.05%) is expected to close on October 6. The decline is adding pressure to the communication services sector (-0.9%), which is also contending with weakness in Alphabet (GOOG 336.02, -4.72, -1.39%) after it reversed an earlier gain, while TKO Group Holdings (TKO 172.44, -7.28, -4.05%)) and Fox (FOX 54.36, -1.94, -3.45%) are among the other worst-performing S&P 500 components.
