Stock Market Update
28-Jul-26 11:35 ET
Oil slide and earnings buzz looks to offset tech weakness
Dow +568.39
at 52778.47,
Nasdaq -21.58
at 24931.51,
S&P +23.95
at 7437.13
[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (-0.1%), and DJIA (+1.1) are at their best levels of the session just before midday.
Today's action is not dissimilar from yesterday's session in that earnings and falling oil prices support the broader market, though a sharp rotation out of semiconductor stocks limits gains at the index level. Eight S&P 500 sectors trade firmly higher, with Coca-Cola (KO 89.15, +5.09, +6.05%), Sherwin-Williams (SHW 353.93, +26.66, +8.15%), and IQVIA (IQV 241.08, +27.86, +13.07%) among some of the top post-earnings names.
Crude oil is also moving to session lows, currently down $3.19 (-3.8%) to $79.46 per barrel.
Meanwhile, semiconductor stocks are off their worst levels of the session, but remain firmly lower. The PHLX Semiconductor Index is down 4.5%, extending its month-to-date loss past 22% and weighing on the information technology sector (-1.2%) today.
