Stock Market Update
26-Oct-26 10:00 ET
Stocks open to broad gains as AI trade looks to rebound
Dow +178.38
at 52393.75,
Nasdaq +60.81
at 26036.59,
S&P +30.92
at 7654.67
[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.3%), and DJIA (+0.4%) are modestly higher just after the open on Monday morning.
The AI trade is off to a better start this morning after a choppy previous week that featured a sharp selloff on Thursday. The PHLX Semiconductor Index is up 1.0%, helping the information technology sector (+0.4%) jump out to a nice early gain, with the strength spilling over into AI infrastructure names in the industrials sector (+0.7%) as well.
Strength is broad this morning, with 10 total S&P 500 sectors trading higher. The communication services sector (+1.4%) leads the advance, supported by broad strength in its components as oil prices move lower this morning and a solid gain in Tesla (TSLA 391.59, +19.37, +5.20%), which is recovering some of last week's post-earnings weakness after Barclays upgraded the stock to Overweight from Equal Weight.
Only the communication services sector (-1.0%) moves lower, pressured by Meta Platforms (META 630.26, -12.36, -1.92%)after the company announced it is launching a $35 billion equity financing plan to support its AI infrastructure and personal superintelligence investments. Verizon (VZ 43.30, -1.36, -3.06%) retreats after earnings, while Reddit (RDDT 138.05, -6.20, -4.29%) is also among the worst-performing S&P 500 components.
