Stock Market Update
20-Jul-26 11:30 ET
Investors buy into recent chip weakness, broader market tempers gains
Dow -97.39
at 52049.03,
Nasdaq +146.46
at 25687.71,
S&P +22.71
at 7480.40
[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.6%), and DJIA (-0.2%) are mostly higher just before midday as semiconductor stocks recover from last week's slog against a backdrop of deteriorating strength in the broader market.
The PHLX Semiconductor Index is up 2.1%, supported by broad strength that includes both large chipmakers and memory names. However, the information technology sector (+0.6%) has given up much of its earlier strength as it faces pressure in some of its largest non-semiconductor names, including Apple (AAPL 324.87, -8.87, -2.66%) and Oracle (ORCL 122.44, -3.97, -3.14%).
A solid early rebound in Alphabet (GOOG 356.11, +9.99, +2.89%) after a tough week helps the communication services sector (+1.7%) outperform, while the energy sector (+0.9%) also moves higher amid a choppy morning for oil prices. Crude oil currently holds a modest loss for the session, but remains above the $81 per barrel mark. Treasury yields are higher across the curve, putting pressure on some rate-sensitive pockets of the market.
A total of six S&P 500 sectors trade lower, though the losses are all contained to 0.5% or narrower.
