Stock Market Update

[BRIEFING.COM] The major indices remain above prior closing levels.

Disappointing earnings results and/or guidance from Micron (MU 86.91, -17.04, -16.4%) and Lennar Corp. (LEN 138.11, -7.83, -5.4%) have contributed to the mixed vibe in today's session. This price action has also contributed to the underperformance of their respective industries. The SPDR S&P Homebuilder ETF (XHB) trades 1.6% lower and the PHLX Semiconductor Index (SOX) shows a 0.7% decline. 

The S&P 500 sectors that house semiconductor-related names and homebuilders have managed to trade higher due to strength in their mega cap components. The information technology sector is boosted by Apple (AAPL 251.36, +3.31, +1.3%), Microsoft (MSFT 441.19, +3.86, +0.9%), and NVIDIA (NVDA 133.04, +4.13, +3.2%) while the consumer discretionary sector is boosted by Amazon.com (AMZN 225.71, +5.19, +2.3%). Tesla (TSLA 433.78, -6.38, -1.5%) shares rolled over after initially trading higher.