Stock Market Update
31-Jul-26 14:30 ET
Two sectors with big leaders and huge gains
Dow +326.92
at 52534.98,
Nasdaq +200.50
at 25343.69,
S&P +46.53
at 7484.16
[BRIEFING.COM] The indices continue to sit near their highs for the session. Strikingly, there are two sectors going gangbusters today, and just when you thought their gains might have been overdone, they have pushed to new highs.
Enter the communication services (+4.4%) and consumer discretionary (+6.3%) sectors, areas where Alphabet (GOOG 355.84, +22.16, +6.64%) and Amazon (AMZN 270.91, +35.41, +15.04%) live. Both stocks have been in huge demand today, catalyzed by Amazon's results, which generated some ROI optimism about AI buildout initiatives.
The irony is that the majority of stocks in each sector are trading lower today. That just goes to show the weight multi-trillion market-cap companies have moving their sectors and, in today's case, the market.
Separately, the industrials sector (+1.0%) is having a fine day, bolstered by Eaton's (ETN 415.08, +28.19, +7.29%) earnings report, only it has been overshadowed by the strength in the communication services and consumer discretionary sectors.
