Stock Market Update
31-Jul-26 10:00 ET
Amazon leads while 10-yr yield bleeds
Dow +41.08
at 52249.14,
Nasdaq +120.25
at 25263.44,
S&P +10.03
at 7447.66
[BRIEFING.COM] The major indices had a bounce in their step at the opening bell, riding the momentum of Amazon (AMZN 268.54, +33.04, +14.03%) and the semiconductor stocks. That momentum helped the indices overcome an ugly start for Apple (AAPL 305.22, -28.20, -8.46%), which disappointed with its fiscal Q4 revenue outlook.
The weight of Apple is showing up in the information technology sector (-0.9%), but the real drag on the market today may just be rising Treasury yields. The 10-yr note yield has advanced to 4.73%, up seven basis points from yesterday's cash settlement. That move has slowed the stock market's charge.
Like yesterday, sector performance is pretty lopsided between winners and losers. Currently, there are only three S&P 500 sectors trading higher: consumer discretionary (+5.2%), communication services +1.8%), and industrials (+0.3%).
The materials sector (-2.7%) is the biggest loser, with Corteva (CTVA 81.49, -7.84, -8.78%), Linde plc (LIN 476.78, -31.86, -6.26%), and FMC Corp (FMC 11.23, -0.60, -5.07%) leading that decline.
