Stock Market Midday, Sept. 22: Means Markets Muted Despite Tech Gains as Geopolitics Dominates

Source The Motley Fool

As of 11:31 AM ET, the Nasdaq Composite (NASDAQINDEX:^IXIC) is up 0.29% to 27,201, hitting a new intraday record high, while the S&P 500 (SNPINDEX:^GSPC) has slipped 0.06% to 7,760 and the Dow Jones Industrial Average (DJINDICES:^DJI) is trading down 0.60% to 51,737.

Gold is trading at $4,329.49, down 0.31%, and the 10-year Treasury yield is up 2 basis points at 4.98%. Utilities and basic materials lead the sector gainers, and financial services stocks have dropped the most.

Today's biggest moves

Lennar shares are surging today after Berkshire Hathaway picked up more than $200 million of the stock, despite an earnings miss and housing market caution. Semiconductor stocks, including Micron, extended yesterday's gains as artificial intelligence (AI) optimism returns. Shopify surged after Meta Platforms' AI agent, Muse, integrated its checkout.

What this means for investors

Yesterday's blazing rally faltered this morning, despite tech gains. With the S&P 500 and Nasdaq close to all-time highs, investors are cautious and watching further geopolitical developments. Bank stocks, including Goldman Sachs Group and JPMorgan Chase, slipped on continued interest rate and Treasury yield fears.

The focus is on the UN General Assembly, where markets await progress in the Middle East, particularly reopening the Strait of Hormuz. The upcoming meeting between President Donald Trump and President Xi Jinping is also key, as AI safety, trade, and exports could all be on the table. With no major events on the economic calendar, world events are likely to drive sentiment.

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JPMorgan Chase is an advertising partner of Motley Fool Money. Emma Newbery has positions in Berkshire Hathaway. The Motley Fool has positions in and recommends Berkshire Hathaway, Goldman Sachs Group, JPMorgan Chase, Lennar, Meta Platforms, Micron Technology, and Shopify. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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