Morning Market
Dow 53193.47 +708.44 (1.35%)
Nasdaq 25684.26 +289.39 (1.14%)
SP 500 7558.17 +68.45 (0.91%)
10-yr Note
NYSE Adv 1840 Dec 693 Vol 140.94 mln
Nasdaq Adv 2389 Dec 1353 Vol 3.45 bln
Industry Watch
Strong: Communication Services, Consumer Discretionary, Industrials, Financials
Weak: Energy, Health Care
Moving the Market
— Mega-cap tech adds to alst week’s gains
— Oil prices moving lower after Trump calls off Iran strikes, new talks taking place
— Early weakness in semiconductor stocks
Nine S&P 500 sectors trade higher, with the communication services sector (+4.2%) out in front as Meta Platforms (META 589.33, +32.62, +5.86%) and Alphabet (GOOG 372.33, +15.68, +4.40%) continue to build upon last week’s momentum. A similar gain in Amazon (AMZN 284.14, +12.56, +4.62%) pushes the consumer discretionary sector (+2.8%) firmly higher as well, and the Vanguard Mega Cap Growth ETF is up 1.3%.
Opening weakness across semiconductor names, with the PHLX Semiconductor Index down 2.3%, weighing on the information technology sector (+0.1%).
Energy sector (-1.1%) is the only S&P 500 sector with a loss wider than 0.5% as crude oil retreats toward the $79 per barrel mark.