Stock Market Update

[BRIEFING.COM] The stock market opened to mixed action. The S&P 500 (+0.2%) and Nasdaq Composite (+0.7%) are trading higher, supported by rebound action in NVIDIA (NVDA 122.08, +4.03, +3.4%). Gains in other mega cap stocks and semiconductor-related shares have also contributed to index-level gains, but there is a negative bias under the index surface.

The equal-weighted S&P 500 sports a 0.4% decline and market breadth favors decliners at the NYSE and at the Nasdaq. 

Four S&P 500 sectors trade higher while seven trade lower. The heavily-weighted information technology (+1.0%) and communication services (+0.6%) sectors lead the pack while the real estate (-0.9%) and materials (-0.8%) sectors show the largest declines. 

The Consumer Confidence Index declined to 100.4 in June (Briefing.com consensus 100.0) from 101.3 in May (revised from 102.0).