Stock Market Update
27-Aug-26 11:30 ET
Tech rally overshadows broad weakness after busy earnings
Dow +162.38
at 53626.26,
Nasdaq +303.42
at 26454.66,
S&P +40.96
at 7716.66
[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+1.2%), and DJIA (+0.4%) sit near session highs just before midday.
The market is enthused by a solid rally across technology stocks following the latest round of earnings reports. NVIDIA (NVDA 225.33, +15.67, +7.47%) is a mega-cap standout, moving sharply higher after delivering another stellar earnings report just a few days after a seven-session losing streak.
Software names such as Salesforce (CRM 247.49, +41.87, +20.36%) and CrowdStrike (CRWD 222.45, +33.27, +17.58%) trade even higher after encouraging results of their own. The PHLX Semiconductor Index (+1.7%) and iShares Expanded Tech-Software ETF (+6.5%) are both firmly higher, contributing to strength in the information technology sector (+2.5%), the only S&P 500 sector that trades higher.
Weakness in the broader market initially kept the DJIA near its flatline this morning, though gains in its tech components eventually widened enough to push the index higher.
While losses elsewhere are broad, the worst-performing individual stocks are also a result of earnings today, with Hormel Foods (HRL 21.58, -2.13, -8.98%), HP Inc. (HPQ 28.66, -1.86, -6.11%), and Best Buy (BBY 83.63, -3.81, -4.36%) laggards in the S&P 500.
