Stock Market Update
07-Aug-26 10:05 ET
Growth stocks lead the market higher at the open
Dow +118.48
at 54003.58,
Nasdaq +196.45
at 26565.82,
S&P +25.25
at 7735.21
[BRIEFING.COM] The stock market is off to a solid start this morning, with the tech-heavy Nasdaq Composite (+0.7%) out in front while the S&P 500 (+0.3%) and DJIA (+0.2%) hold more modest gains.
Growth-oriented stocks are outperforming early after a softer July employment report increases the likelihood of the FOMC staying in "wait and see" mode in the near term.
The consumer discretionary sector (+1.6%) leads the advance, with Tesla (TSLA 325.46, +5.92, +1.85%) and Amazon (AMZN 276.88, +4.62, +1.70%) sporting strong early gains while Airbnb (ABNB 175.40, +23.76, +15.67%) is a post-earnings standout.
The information technology sector (+0.7%) is another outperformer, supported by a 1.2% gain in the PHLX Semiconductor Index. Software names are also moving higher this morning following the latest batch of earnings reports after the group underperformed yesterday.
Meanwhile, the energy sector (-1.6%) is the only S&P 500 sector that holds a loss wider than 0.4%. Crude oil is flat as the market waits for more color on Iran's draft plan for the Strait of Hormuz.
