Stock Market Update

[BRIEFING.COM] The major indices have exhibited mixed price action today, but moves in either direction have been limited. Investors lack conviction following a turbulent week.

The S&P 500 (+0.2%), Nasdaq Composite (+0.1%), and Dow Jones Industrial Average (+0.1%) are trading slightly higher than yesterday while the Russell 2000 underperforms, trading down 0.4%.

Gains in the mega cap space have boosted index performance. Eli Lilly (LLY 895.98, +50.67, +6.0%) is a standout in that respect, continuing to climb after reporting earnings yesterday. LLY shares are boosting the S&P 500 health care sector, which trades 0.4% higher.

NVIDIA (NVDA 104.58, -0.39, -0.4%) is an exception from the mega cap space, trading down alongside other semiconductor-related names despite TSMC (TSM 164.92, +0.29, +0.2%) reporting a jump in sales in July. The PHLX Semiconductor Index shows a 0.9% decline.

This price action has limited the performance of the info tech sector, which still trades up 0.4% due to gains in Apple (AAPL 215.47, +2.18, +1.0%) and Microsoft (MSFT 404.74, +2.05, +0.5%).

The industrial (-0.2%) and communication services (-0.2%) sectors are the worst performers.

The 10-yr note yield is down six basis points to 3.94% and the 2-yr note yield is up one basis point to 4.05%.

There was no notable US economic data today.