Stock Market Update

[BRIEFING.COM] The stock market opened mostly higher ahead of a busy week. Some highlights from the calendar include earnings reports from mega cap stocks through the week, the FOMC policy decision on Wednesday, and the July Employment Situation report on Friday. 

Microsoft (MSFT 428.62, +3.41, +0.8%), Meta Platforms (META 471.13, +5.43, +1.2%), Amazon.com (AMZN 184.04, +1.50, +0.8%), and Apple (AAPL 219.01, +0.91, +0.4%) are trading higher, along with other mega caps, in front of their quarterly reports this week. The Vanguard Mega Cap Growth ETF (MGK) is 1.1% higher. 

This price action has propelled the S&P 500 consumer discretionary (+1.5%), communication services (+1.2%), and information technology (+1.0%) sectors to the top of the leaderboard among the 11 sectors. Meanwhile, the energy sector sports the largest decline, down 0.8%.

A drop in market rate has contributed to the upside bias. The 10-yr note yield is down three basis points to 4.17%.