Stock Market Midday, Oct. 27: Tech Stocks Drive Momentum and SoFi Surges 15%
As of 11:41 AM ET, the S&P 500 (SNPINDEX:^GSPC) is up 0.61% to 7,723, the Nasdaq Composite (NASDAQINDEX:^IXIC) has climbed 1.08% to 26,458 as technology stocks lead the session, and the Dow Jones Industrial Average (DJINDICES:^DJI) is trading 0.16% higher at 52,447. Gold is up 1.24% to $4,062.96, and the 10-Year Treasury yield edged down slightly to 4.99%. Technology and basic materials are the top-performing sectors, while consumer defensive and real estate stocks slipped. Royal Caribbean Group climbed 7.6% on stronger-than-expected third-quarter earnings and a full-year guidance raise. Cruise peers Norwegian Cruise Line and Carnival Corp. also gained. Tesla extended gains after a Barclays upgrade yesterday. Conversely, UniFirst and Cintas dropped on reports that the Federal Trade Commission plans to block their $5.5 billion merger. Continue reading