Stock market today: Dow rises, S&P 500, Nasdaq climb as oil prices ease, chip stocks trim losses
Small caps are surging and health care just hit a record. Meanwhile, Big Tech is stalling.
Stocks opened mixed, with chip stocks (^SOX) sliding and oil c(CL=F) near a five-month high. The rally spread through the morning as oil turned lower and chipmakers clawed back their losses.
Now about 3 of every 4 S&P 500 stocks are rising, putting the index on pace for its broadest day since June. The Russell 2000 (^RUT) is beating the S&P 500 by the widest margin since June, too.
Health care is the standout.
The Health Care Select Sector SPDR (XLV) is at a record, led by Eli Lilly (LLY), the top gainer among the 10 biggest US stocks. UnitedHealth (UNH) and Merck (MRK) are rallying, too. With oil easing midday, airlines and homebuilders are joining in.
At the top, it’s a split decision.
Meta (META), Alphabet (GOOG, GOOGL), and Apple (AAPL) are lower, erasing tens of billions in market value and offsetting gains in Lilly and Tesla (TSLA). Nvidia (NVDA), Microsoft (MSFT), and Broadcom (AVGO) are hovering near flat.
689.21 -16.23 (-2.30%)
As of 3:34:43 PM EDT. Market Open.
META GOOGL AAPL
The S&P 500 sits about 1% below its record close. Watch whether the rest of the market can carry it there without its heaviest hitters.
