Stock Market Update
14-Aug-26 10:05 ET
Major averages little changed after muted open
Dow -15.28
at 53824.71,
Nasdaq +15.22
at 26839.27,
S&P +8.84
at 7807.83
[BRIEFING.COM] The major averages are little changed this morning as a quiet premarket translated into a subdued opening.
Breadth figures are relatively even, though the majority of S&P 500 sectors hold modest gains. The energy sector (+1.2%) is the big standout this morning, despite crude oil modestly retreating from yesterday's closing level amid another quiet morning of geopolitical developments.
Meanwhile, memory stocks are seeing a continuation of yesterday's momentum, with Sandisk (SNDK 1637.20, +109.09, +7.14%) and Seagate Tech (STX 985.35, +63.98, +6.94%) among the best-performing S&P 500 names.
However, weakness in other semiconductor-related names such as Broadcom (AVGO 398.47, -19.35, -4.63%) keeps the PHLX Semiconductor Index (-0.1%) near its flatline, while software names give back their gig gains from yesterday, weighing on the information technology sector (-0.1%).
The health care sector (-0.8%) is the only S&P 500 sector with a loss wider than 0.1%.
Just released, the preliminary reading of the August University of Michigan Consumer Sentiment Index checked in at 51.0 (Briefing.com consensus 54.5), down from the final July level of 55.2.
Business inventories were flat in June (Briefing.com consensus 0.1%), from an upwardly revised prior increase of 0.4% (from 0.3%).
