S&P 500 (NYSEARCA: SPY) Live: Markets Hold Back on Fiscal Outlook

This article will be updated throughout the day, so check back often for more daily updates.

The markets opened on a subdued note across the board this morning, with all three of the major stock market averages edging lower. If the S&P 500 can turn it around like it did yesterday, it will mark its seventh-straight winning session for the broader market index. The SPY ETF remains lower by a slight 0.30%. After Moody’s cut the U.S. debt rating by one notch, Deutsche Bank responded with its assessment that the U.S. economy is experiencing a “death by a thousand cuts.” But it’s not as bad as it sounds. Deutsche Bank’s Jim Reid wrote,

“Yesterday felt like we were somewhere along the line of a ‘death by a thousand cuts’ with regards to the U.S. fiscal situation. Hard to know where in that thousand we are but probably much nearer a thousand than at zero even as yesterday saw an initial sell-off reverse as the session went on.”

Despite the broader market’s struggles, Tesla (Nasdaq: TSLA) is an outlier, climbing 3% and offering some counterweight to the losses seen in the Nasdaq Composite and S&P 500. Tesla boss Elon Musk vowed to remain at the helm of the EV maker for the next five years.

On the Dow, Home Depot (NYSE: HD) has indicated it won’t pass tariff-related costs onto consumers, a different approach compared to fellow Dow component Walmart (NYSE: WMT), which had earlier signaled price increases.

Here’s a look at the performance as of mid-morning trading:

Dow Jones Industrial Average: Down 98.87 (-0.23%)
Nasdaq Composite: Down 95.66 (-0.49%)
S&P 500: Down 20.48 (-0.33%)

Market Movers

Quantum computing stocks are capturing attention. D-Wave Quantum (Nasdaq: QBTS) surged as much as 20% this morning after launching its newest quantum computing system. The company’s Advantage2 system, now accessible via the cloud, represents its most powerful offering yet, boasting enhanced energy efficiency and reduced noise.

Dominion Energy (NYSE: D) is adding 3.3% to its value today, nearing its 52-week high.

Norwegian Cruise Line (NYSE: NCLH) is shedding 3.2% of its value, and Airbnb (Nasdaq: ABNB) is down 3.1% following an order from Spain to delist tens of thousands of short-term rental properties.