Stock Market Update
28-Jul-26 10:05 ET
Rotation out of semiconductors intensifies
Dow +350.48
at 52560.56,
Nasdaq -278.33
at 24674.76,
S&P -16.94
at 7396.24
[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-1.2%), and DJIA (+0.7%) are mostly lower as chipmaker names extend their recent losses, while the broader market trends higher.
The information technology sector (-2.5%) is one of just two S&P 500 sectors that trade lower this morning, pressured by a 5.4% slide in the PHLX Semiconductor Index. Memory names, AI-infrastructure names, and large chipmakers are all under pressure, while Corning (GLW 116.34, -27.02, -18.85%) holds the widest loss after earnings.
Meanwhile, Coca-Cola (KO 89.38, +5.32, +6.32%) and Sherwin-Williams (SHW 352.74, +25.47, +7.78%) trade sharply higher after earnings, contributing to the outperformance of the DJIA. The S&P 500 Equal Weighted Index (+0.7%) also outperforms this morning, highlighting that weakness is concentrated in large technology stocks.
Just released, the Conference Board's Consumer Confidence Index decreased to 90. 8 in July (Briefing.com consensus 92.1) from a revised 92.2 (from 91.2) in June.
