Stock Market Update
15-Oct-26 14:00 ET
AI trade bounces back
Dow +535.17
at 52156.86,
Nasdaq -20.81
at 26692.50,
S&P +21.48
at 7740.49
[BRIEFING.COM] After a decidedly weak start, many of the stocks caught up in the so-called "AI trade" have managed to cut their losses by a considerable margin. That recovery has been embedded in the improved standing of the major indices.
The Nasdaq 100, down as much as 1.8%, is down 0.4%; the Invesco S&P 500 High-Beta ETF (SPHB), down as much as 3.7%, is down 0.7%; and the Philadelphia Semiconductor Index, down as much as 4.4%, is down 1.9%.
There wasn't a specific news catalyst for the recovery effort, which took root primarily on the basis of a feeling that many stocks had gotten oversold on a short-term basis and were due for a bounce.
That sentiment has been helped by the downturn in Treasury yields. The 10-yr note yield, which hit 5.32% in the wake of yesterday's disappointing CPI report, currently sits at 5.09% after going as low as 5.04% in today's action.
