How Are the Major Indices Performing?
The Dow is down 100 points, or 0.3%, as blue-chip stocks face selling pressure. Investors appear cautious about economic growth prospects, with little appetite for defensive sectors.
In contrast, the S&P 500 is up 0.3%, finding support from technology and communication services stocks. The Nasdaq Composite leads, rising 0.6%, lifted by Tesla, Meta, and Nvidia. Nvidia is up 1.6%, while Meta has gained 1.4%. Apple continues its climb toward a $4 trillion market valuation.
Which Sectors Are Driving the Market?
Tech Leads the Charge
Technology is the best-performing sector, up 0.82%. Broadcom is the standout, surging 4% and continuing its rally. Qualcomm also climbed 1.7% after resolving a legal dispute over processor licensing.
Communication Services Gains Ground
The communication services sector is also performing well, rising 1.06%, reflecting strong performances from large-cap tech firms.
Consumer Staples and Energy Weigh on Markets
On the downside, consumer staples have dropped 1.28%, with Walmart sliding 3.3% following legal allegations related to delivery fees. Energy is down 0.15%, while materials have declined 0.65%, adding to the defensive sector weakness.
Healthcare Holds Steady
Healthcare is posting marginal gains of 0.11%. Eli Lilly rose 1.7% after the FDA approved its weight-loss treatment targeting sleep apnea. However, competitors ResMed and Inspire Medical have each fallen by about 4%.
