Stock Market Update

[BRIEFING.COM] The stock market has faced some more pressure in recent action, which is putting the S&P 500 (+0.2%) closer to its closing level from yesterday.

The energy sector (-0.6%) is today's weakest performer as it slides alongside crude oil, which is down $1.95, or 2.6%, at $73.94/bbl. The loss comes amid a Reuters report that OPEC+ will follow through with its planned output hike in October, and it has sent oil to a fresh low for the week. It is currently down $0.93, or 1.2%, since last Friday, with its August low of $71.46/bbl looming below.

Today's underperformance in the energy sector makes for a continuation of this month's weakness. The energy sector is down 3.2% since the end of July while only one other sector—consumer discretionary (+0.8%; -2.2% month-to-date)—is in the red for August.