Stock Market Update
21-Oct-26 14:25 ET
S&P 500 back above 50-day moving average
Dow +315.80
at 52811.89,
Nasdaq +333.61
at 26778.87,
S&P +55.82
at 7768.46
[BRIEFING.COM] The S&P 500 (+0.7%) hovers near its best level of the session, drawing support from gains in seven sectors while four groups remain in the red with communication services (-0.9%) and health care (-0.6%) showing the widest losses.
The benchmark index has been trading near its 50-day moving average (7705) for the past week, including a dip to that level at the start of today's session before rebounding in search of its best close since last Tuesday. Improved sentiment surrounding the AI trade has helped the market stay in positive territory today and it has helped the Nasdaq (+1.3%) stay ahead of the S&P 500 throughout the day.
This week has been very quiet in terms of economic data, and things will remain that way for another few days leading into next Wednesday's FOMC rate decision at 14:00 ET, which will be followed by advance Q3 GDP and the September Personal Income/Outlays report on Thursday.
