Stock Market Update
11-Sep-26 10:05 ET
Broad gains and tech leadership as oil retreats
Dow +593.68
at 52657.78,
Nasdaq +298.77
at 26401.54,
S&P +78.29
at 7669.99
[BRIEFING.COM] The S&P 500 (+1.0%), Nasdaq Composite (+1.2%), and DJIA (+1.1%) have reclaimed a chunk of this week's losses as stocks opened to broad strength.
Despite this morning's release of the August Consumer Price Index nearly locking in the market's expectations for a rate hike at next week's FOMC meeting, stocks are enjoying a nice boost from easing oil prices. Crude oil is currently down $3.39 (-3.3%) to $99.09 per barrel amid reports of more potential negotiations between Gulf states on Monday around the Strait of Hormuz.
All eleven S&P 500 sectors trade higher, with solid leadership from mega-cap and tech stocks. The information technology sector (+1.6%) holds the widest gain, boosted by a 1.6% gain in the PHLX Semiconductor Index and strength in Oracle (ORCL 156.57, +3.63, +2.37%) after earnings.
Just released, the preliminary University of Michigan Consumer Sentiment Index for September decreased to 47.8 (Briefing.com consensus: 51.5) from the final August reading of 51.7.
