Morning Market
Dow 54039.28 +63.30 (0.12%)
Nasdaq 26617.84 -8.54 (-0.03%)
SP 500 7760.22 +7.11 (0.09%)
10-yr Note
NYSE Adv 1499 Dec 977 Vol 142.87 mln
Nasdaq Adv 2317 Dec 1397 Vol 2.33 bln
Industry Watch
Strong: Industrials, Energy, Utilities
Weak: Communication Services, Consumer Staples, Real Estate, Consumer Discretionary, Health Care
Moving the Market
–Relatively muted action ahead of tomorrow’s release of the July CPI
–Redbound across semiconductor stocks
Alphabet (GOOG 350.14, -5.70, -1.60%) and Amazon (AMZN 274.81, -3.28, -1.18%) are among the early laggards, pushing the communications services (-0.6%) and consumer discretionary (-0.3%) sectors lower.
The information technology sector is flat as Microsoft (MSFT 500.90, -5.16, -1.02%) and other software names give back some of yesterday’s gains. Those losses are partially offset by strength in NVIDIA (NVDA 219.56, +2.02, +0.93%) and the broader semiconductor group, with the PHLX Semiconductor Index up 1.2% after a late-session report involving NVIDIA and several asset managers’ plans to mobilize up to $500 billion for AI infrastructure helped drive chip stocks lower into Monday’s close.
The industrials sector (+1.1%) follows the semiconductor group higher with the usual host of electrical product names outperforming, while a solid gain in Caterpillar (CAT 860.19, +22.61, +2.70%) contributes to the DJIA’s strength this morning.