Stock Market Update
23-Oct-26 11:35 ET
Technology rebound offers limited support amid broader market weakness
Dow -475.92
at 52392.27,
Nasdaq +62.58
at 26091.88,
S&P +8.44
at 7671.94
[BRIEFING.COM] The major averages are mostly lower just before midday, with the S&P 500 (-0.1%) trading near its flat line, the Nasdaq Composite (+0.3%) holding a modest gain, and the DJIA (-0.9%) lagging amid broader selling pressure. Technology stocks are staging a modest rebound following yesterday's sharp retreat, although weakness across most other areas of the market is limiting the recovery.
The information technology sector (+0.8%) is one of just three S&P 500 sectors trading higher, with the PHLX Semiconductor Index (+1.1%) recovering a small portion of yesterday's steep losses but remaining firmly lower for the week.
Rising oil prices are adding pressure to economically sensitive stocks, with WTI crude futures up $2.78 (+2.8%) to $102.26 per barrel amid heightened geopolitical tensions. The energy sector (+2.9%) is benefiting from the advance, while other cyclical sectors are underperforming.
Several companies are seeing notable earnings-driven moves, although today's reports have lacked the broader market impact of yesterday's results, particularly those that intensified concerns about the AI trade.
