Stock Market Update

[BRIEFING.COM] The stock market opened to mixed action. The major indices have traded above and below prior closing levels due to choppy action in the mega cap space. NVIDIA (NVDA 145.81, -0.07, -0.04%) was trading up as much as 4.8% after the open, but trades fractionally lower now. 

The volatile response follows impressive earnings from NVDA, but there was some disappointment that NVIDIA's revenue growth rates are decelerating.

There's a positive bias under the index surface, though. Advancers lead decliners by a better than 2-to-1 margin at the NYSE and by a 4-to-3 margin at the Nasdaq. Also, the Invesco S&P 500 Equal Weight ETF (RSP) shows a 0.4% gain.

October existing home sales totaled 3.96 million units (Briefing.com consensus 3.90M) from a revised 3.83 million (from 3.84 million) in September.

The Leading Indicators Index fell 0.4% in October (Briefing.com consensus -0.3%) following a 0.5% decline in September.