Stock Market Update
11-Sep-26 11:35 ET
Mega-caps lead rebound effort as oil retreats
Dow +522.58
at 52586.68,
Nasdaq +331.29
at 26434.06,
S&P +79.72
at 7671.42
[BRIEFING.COM] Stocks are having their best session of an otherwise negative week, with the S&P 500 (+1.1%), Nasdaq Composite (+1.3%), and DJIA (+1.0%) near session highs just before midday.
After continuous upward pressure this week, oil prices have pulled back today, providing the market with some much-needed relief after WTI crossed the $102 per barrel mark. Reports that Gulf states will meet with Iran Monday to discuss the Strait of Hormuz have so far outweighed headlines of record diesel prices, and WTI crude is currently down $3.30 (-3.2%) to $99.18 per barrel.
Strength is broad with nine S&P 500 sectors trading higher, and the defensive health care (-0.3%) and utilities (-0.1%) just recently moving into slightly negative territory.
Meanwhile, the communication services (+1.9%) and information technology (+1.6%) sectors hold the widest gains, supported by strength in mega-cap stocks such as Alphabet (GOOG 338.81, +8.42, +2.55%) and Apple (AAPL 334.97, +8.40, +2.57%) . The Vanguard Mega Cap Growth ETF is up 1.3%.
