Stock Market Update

[BRIEFING.COM] The S&P 500 is still 1.2% lower this week and the Nasdaq Composite is 1.4% lower on the week. The Dow Jones Industrial Average and Russell 2000 are little changed from last Friday.

Mega cap stocks are in a leadership role today, but lagged the broader market this week. The Invesco S&P 500 Equal Weight ETF (RSP) sports a 0.7% decline this week while many mega caps show sizable declines in response to earnings news. Tesla (TSLA 248.05, -1.80, -0.7%), which is 7.9% lower this week after reporting earnings, and Apple (AAPL 222.82, -3.09, -1.4%), which shows a 3.7% loss this week, are among the influential losers. 

The Vanguard Mega Cap Growth ETF (MGK) is 1.7% lower this week.