Stock Market Update
31-Aug-26 11:35 ET
Stocks face broad pressure to start the week
Dow -336.52
at 53223.47,
Nasdaq -111.03
at 26312.44,
S&P -37.02
at 7674.74
[BRIEFING.COM] Stocks are under pressure to start the week, with the S&P 500 (-0.5%), Nasdaq Composite (-0.3%), and DJIA (-0.6%) near session lows just before midday.
Weakness is broad as the latest military hostilities between the U.S. and Iran send crude oil firmly higher. The energy sector (+1.0%) is an obvious standout, while the information technology sector (flat) shows resilience as semiconductor stocks and software names both edge modestly higher.
Meanwhile, nine S&P 500 sectors trade lower, with some notable losses in the mix. The communication services sector (-1.7%) holds the widest loss as Alphabet (GOOG 334.44, -8.44, -2.46%) lags, while aerospace and defense names pressure the industrials sector, and Edison (EIX 53.90, -16.27, -23.19%) and PG&E (PCG 13.42, -3.18, -19.16%) weigh on the utilities sector (-1.1%) after California lawmakers advanced a narrower wildfire package that omitted Governor Newsom's proposed limits on insurers' ability to recover wildfire payouts from utilities,
Outside the S&P 500, the Russell 2000 (-0.9%) and S&P Mid Cap 400 are underperforming the major averages.
