Stock Market Update
28-Aug-26 10:05 ET
Stocks little changed as Fed Chair Warsh begins his address
Dow +75.28
at 53644.72,
Nasdaq -24.94
at 26537.46,
S&P +3.21
at 7734.20
[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (-0.1%), and DJIA (+0.1%) are little changed as Fed Chair Kevin Warsh begins his address at the Jackson Hole Symposium.
The information technology sector (-0.3%) has given back a touch of yesterday's strength, with weakness concentrated across semiconductor stocks. NVIDIA (NVDA 225.34, -2.64, -1.16%) moves lower, and the PHLX Semiconductor Index is down 1.1%.
However, mega-cap stocks outside of the information technology sector are rebounding from a mostly lower showing yesterday, helping the communication services (+1.2%) and consumer discretionary (+0.8%) sectors outperform. A total of eight S&P 500 sectors trade higher so far.
On the economic data front, the Chicago PMI registered at 47.1 in August (Briefing.com consensus 57.0), down from the prior level of 57.6.
The final reading of the August University of Michigan Consumer Sentiment Index expanded slightly to 51.7 (Briefing.com consensus 51.0) from the previous level of 51.0.
