Stock Market Update

[BRIEFING.COM] The major indices sit at or near session lows. The S&P 500 shows a 0.9% decline versus a 0.8% loss in the equal-weighted S&P 500.

Netflix (NFLX 643.20, -4.26, -0.7%) shows a modest decline in front of its earnings report this afternoon. This price action has contributed to the downside action in the S&P 500 communication services sector, down 0.3%. Alphabet (GOOG 179.10, -3.53, -1.9%) is another influential loser from the space while Meta Platforms (META 475.16, +13.11, +2.8%) provides some offsetting support. 

The communication services sector shows the slimmest decline among the nine sectors trading lower. The utilities sector is trading flat while the energy sector maintains a 0.4% gain.