Stock Market Update
13-Jul-26 10:05 ET
Broader market resilient despite tech weakness, oil volatility
Dow +94.22
at 52731.23,
Nasdaq -264.02
at 26038.59,
S&P -23.70
at 7551.69
[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-1.0%), and DJIA (+0.1%) are mostly lower just after the open as tech losses weigh on the indices despite relatively broad strength elsewhere.
The top-weighted information technology sector (-1.4%) is a drag on the market this morning as the PHLX Semiconductor Index slides 3.5%. Memory names such as Micron (MU 924.86, -54.44, -5.56%) and Sandisk (SNDK 1740.90, -175.02, -9.14%) are among the worst-performing S&P 500 components, moving lower in tandem with SK Hynix Inc. (SKHYV, 135.00, -13.60, -9.2%) which is selling off sharply after its ADR debut on the Nasdaq on Friday.
Electrical product names once again move lower with the semiconductor group, weighing on the industrials sector (-0.3%), while general weakness across mega-cap tech names keeps the consumer discretionary (-0.2%) and communication services (-0.2%) sectors modestly lower as well.
Meanwhile, eight S&P 500 sectors move higher, led by the energy sector (+2.7%) amid the jump in oil prices. The defensive consumer staples (+1.5%), utilities (+0.9%), and health care (+0.8%) sectors are also sporting solid gains, suggesting some rotational action as high-profile tech names retreat.
