Stock Market Update
23-Sep-26 10:05 ET
Stocks open to broad weakness
Dow -136.49
at 51727.20,
Nasdaq -190.49
at 27074.83,
S&P -32.49
at 7732.15
[BRIEFING.COM] The S&P 500 (-0.4%), Nasdaq Composite (-0.7%), and DJIA (-0.3%) are off to a lower start this morning as semiconductor stocks retreat after two exceptional sessions while rising oil prices and Treasury yields pressure the broader market.
The PHLX Semiconductor Index is down 1.6%, pushing the top-weighted information technology sector (-0.4%) lower.
Mega-cap stocks are mixed this morning, with Amazon (AMZN 250.00, -4.98, -1.95%) weighing on the consumer discretionary sector (which is also pressured by weakness in more oil-sensitive names this morning), while enthusiasm around the newly released Muse keeps Meta Platforms (META 755.61, +19.01, +2.58%) higher, softening losses in the communication services sector (-0.7%) as Alphabet (GOOG 339.28, -8.12, -2.34%) moves lower.
Elsewhere, the energy sector (+1.4%) is a standout as crude oil moves higher this morning, while rising yields weigh heavily on the utilities sector (-1.6%). Treasury yields have spiked following preliminary September PMI data from S&P Global, which will contribute to expectations for more policy tightening. The 10-year note yield is up seven basis points to 5.04%.
The preliminary September S&P Global U.S. Services PMI increased to 58.7 from 56.5 in August, while the Manufacturing PMI rose to 57.0 from 53.9.
