Stock Market Update

[BRIEFING.COM] The stock market continues to behave in a lackluster manner, succumbing to some selling interest after a spirited run that includes eight-session win streaks for the S&P 500 and Nasdaq Composite. Over that period, the S&P 500 gained 7.9% and the Nasdaq Composite surged 10.4%.

Today's trade, then, has the semblance of some consolidation activity.

Small-cap stocks are the weakest links. The Russell 2000 is down 1.2% with its energy components acting as a primary drag.

On a related note, the S&P 500 energy sector (-2.6%) is today's worst-performing sector with every component down at least 1.3%. Sector heavyweights Exxon Mobil (115.02, -3.51, -3.0%) and Chevron (CVX 144.84, -1.99, -1.4%) are key drags. Reports indicate an arbitration panel will review the value of Hess's oil assets in Guyana, which is a point of dispute among the oil giants as Chevron aims to acquire Hess.