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US stocks (^DJI, ^IXIC, ^GSPC) sink at Friday's market open after President Trump threatened 50% tariffs against the EU (European Union).
The Morning Brief's Brad Smith monitors the morning market action and the moves across sectors, notably consumer discretionaries.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
There, you're taking a look at this Friday opening bell ahead of the holiday weekend. The New York Stock Exchange, you've got a good look at Fleet week. New York 2025, ringing the opening bell there. And Ronaldo's Tactical Acquisition Court, ringing the opening bell at the Nasdaq in midtown Manhattan. All right, let's take a look at how we begin things here on the day. I'm just going to tab us on over to our major averages here, as we've got the Dow Jones industrial average right now beginning the day with some slippage. Right now, we're down by about 1.1%. Year to date, you're taking a look at the Dow as well here with our chart. Let's put this on a line chart for you if we may, just so you can get a better view on off of some of those candlesticks. Okay, year to date, we're back in negative territory this week. And taking a look at that, we're down by about 2.7% now year to date. Now, as that composite, now seeing some slippage year to date as well. We're down by about 3 and a half% there. 1.7% lower here on the day session and the S&P 500 just seeing that down by about 1.2% right now, as we're taking a look at some of the sector activity. 11 S&P 500 sectors, we got them pulled up on the screen for you here. We're mixed. However, clearly, more laggards than gainers unfortunately, right now, as we've got utilities that is leading the pack. That's up by about 8/10, 7/10 of a percent. But bringing up to caboose, consumer discretionary. We were just talking about some of those retail names, catching a little bit of pressure because of the outlooks here, weaker than expected, across Ross and Deckers that were in focus that we were tracking and discussing a moment ago here. And take a look at consumer discretionary sector that's down by about 1.6, 1.7%. You've also got, I was trying to pull up this other. Yep, there we go. Technology, 1.6% in decline. Speaking of technology, here's a look at the Nasdaq 100. You've got only a few peppered in spots of green. And that is coming in the form of Intuit. We were just talking about some of their earnings here. We've got a discussion with their CFO coming up. But shares of Intuit starting off the day on a positive note there, up by about 8%. We'll round that off to. However, those megacap tech stocks, some of the magnificent seven, all of the magnificent seven, actually, we're looking like we're in the red across the board there. Nvidia down by about 2.4%. Apple lower by about 2.7% here, as they're catching some pressure and potentially, if you do see additional tariffs go into effect on iPhones, then that could have a major impact on shares of Apple, or at least the thesis around it, especially one of the largest product divisions for the company, the largest essentially. So we're taking a look at shares there down by about 2.8%. Then just lastly here, I do want to ride out with a look at the Dow components. The Dow 30 if you will, as again, just a few spots of green that are peppered in here. Uh, United Healthcare. Oh my gosh, sigh of relief that they're higher. That's up by about 9/10 of a percent. But yeah, I heard you like some broader context here, so let's contextualize this. Uh, trailing 17 sessions down by about 27%. Uh, and then some of the same laggards here, Apple, Nvidia, and then Disney as well. That's also moving lower by about 1.8%.