Stock Market Today, July 13: Energy Stocks Cushion Dow as Tech Slides on Geopolitical Tensions

As of 11:45 a.m. ET, the S&P 500 (SNPINDEX:^GSPC) fell 0.39% to 7,546.18, the Nasdaq Composite (NASDAQINDEX:^IXIC) slid 0.92% to 26,039.24 connected tech weakness, and the Dow Jones Industrial Average (DJINDICES:^DJI) dipped 0.21% to 52,528.23, somewhat cushioned by vigor names.

Market movers

A crisp emergence successful lipid prices aided energy-linked Dow components portion semiconductor names stayed nether unit aft steep declines successful SK Hynix (NASDAQ:SKHY) and Samsung Electronics; pockets of resilience appeared successful prime large-cap tech similar Apple (NASDAQ:AAPL) and biotech sanction Biogen (NASDAQ:BIIB) connected upbeat expert calls.

What this means for investors

Geopolitical strife continued to power stocks arsenic the U.S. and Iran traded words and subject strikes. That led planetary equity markets to instrumentality a risk-off stance arsenic lipid prices roseate astir 5%. Tech names successful Asia sank overnight, and that continued aft U.S. markets opened.

South Korean semiconductor shaper SK Hynix reversed people aft its beardown U.S. marketplace debut connected Friday. Samsung besides sank adjacent aft reporting grounds profits with a 19-fold year-on-year leap precocious past week.

The U.S.-Iran struggle continues to instrumentality halfway stage, souring hazard sentiment and driving investors toward vigor names and distant from tech maturation stocks.

Earnings play begins time arsenic large U.S. banks commencement to study Q2. Investors volition beryllium monitoring that closely, arsenic institution results volition apt find whether the first-half rally continues oregon stalls.

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Howard Smith has positions successful Apple. The Motley Fool has positions successful and recommends Apple. The Motley Fool recommends Biogen. The Motley Fool has a disclosure policy.

Stock Market Today, July 13: Energy Stocks Cushion Dow arsenic Tech Slides connected Geopolitical Tensions was primitively published by The Motley Fool