Stock Market Update

[BRIEFING.COM] The major averages now trade mostly lower in a relatively stable range amid the weakness in tech and mixed strength in the broader market.

Best Buy (BBY 73.10, -2.91, -3.83%) shares are lower after the company announced that Matt Bilunas, its chief financial and strategy officer, will step down and leave at the end of July, creating a second major leadership transition as Jason Bonfig prepares to become CEO on November 1. The timing is creating investor unease because BBY is now replacing a long-tenured finance and strategy leader while also preparing for a CEO handoff, adding continuity risk in a year already shaped by cautious consumer spending, promotional pressure, and margin-management challenges.

Meanwhile, Accenture (ACN 125.62, +0.79, +0.63%) is modestly higher after announcing a $2.0 billion increase to its share repurchase program this morning, bringing planned FY26 buybacks to $7.5 billion, up 62% year-over-year. The timing is notable after Accenture sold off sharply following last week's Q3 (May) report. While EPS beat and revenue were roughly in line, weaker bookings, modest consulting growth, and a reduced FY26 revenue outlook raised concerns about demand and the pace of AI conversion.