Stock Market Update
24-Sep-26 10:05 ET
Growth stocks extend retreat as oil and yields remain elevated
Dow -139.05
at 51372.54,
Nasdaq -160.75
at 26796.33,
S&P -18.47
at 7687.56
[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.6%), and DJIA (-0.3%) are off to another lower start this morning as the market faces pressure from elevated Treasury yields and oil prices.
Weakness remains pronounced in growth stocks, with mega-cap and tech names weighing on the major averages. Six S&P 500 sectors trade lower, with the information technology sector (-1.1%) posting the widest loss as the PHLX Semiconductor Index slips 1.4%.
Weakness across semiconductor-linked names weighs on the industrials sector (-0.5%), while relative weakness in mega-cap stocks keeps the consumer discretionary sector (-0.5%) lower as well.
Meta Platforms (META 759.72, +15.62, +2.10%) continues to buck the trend, keeping the communication services sector (+0.7%) in positive territory as enthusiasm remains strong about its newly released Muse.
Elsewhere, the defensive health care (+1.2%) and consumer staples (+0.7%) sectors trade higher amid the weakness in growth stocks today, while the energy sector (+1.1%) is supported by higher oil prices.
Just released new home sales increased 6.4% month-over-month in August to a seasonally adjusted annual rate of 684,000 (Briefing.com consensus 610,000) from a revised 643,000 (from 607,000) in July.
