Stock Market Update
17-Aug-26 10:05 ET
Broad weakness outweighing early semiconductor gains
Dow -147.48
at 53584.93,
Nasdaq -6.90
at 26743.29,
S&P -13.39
at 7772.37
[BRIEFING.COM] The S&P 500 (-0.2%), Nasdaq Composite (flat), and DJIA (-0.3%) are mostly lower this morning as broad weakness outweighs a strong opening from semiconductor stocks.
The PHLX Semiconductor Index is up 1.9%, helping keep the information technology sector (+0.2%) above its baseline. Sandisk (SNDK 1777.40, +136.29, +8.30%) and other memory names are particularly strong after Secretary of Commerce Howard Lutnick said the Trump administration does not want Apple (AAPL 305.28, -0.64, -0.21%) buying Chinese memory chips.
Meanwhile, weak breadth figures leave seven S&P 500 sectors moving lower. Mega-cap weakness outside of the semiconductor space weighs on the communication services (-0.6%) and consumer discretionary (-0.6%) sectors, with Meta Platforms (META 578.96, -10.90, -1.85%) the early "Magnificent Seven" laggard.
Elsewhere, the consumer staples sector (-0.9%) holds the widest loss, with alcoholic beverage names such as Constellation Brands (STZ 132.76, -6.42, -4.61%)and Molson Coors Brewing (TAP 41.15, -1.62, -3.79%) among the worst-performing S&P 500 names.
Just released the NAHB Housing Market Index checked in at 35 in August (Briefing.com consensus 34), from the priro reading of 34.
