Stock Market Update

[BRIEFING.COM] The equity market trades mostly higher after last week's solid gains on below-average volume. The S&P 500 (+0.1%) is slightly above its prior close and the Dow Jones Industrial Average trades 0.8% higher. The Nasdaq Composite (-0.7%) trades lower due to weakness in the mega cap space.

The Vanguard Mega Cap Growth ETF (MGK) shows a 0.5% decline. Apple (AAPL 215.90, -6.60, -3.0%) is a losing standout on some speculation that iPhone16 Pro demand has been weaker than expected. 

Semiconductor stocks are also weighing down the broader market. The PHLX Semiconductor Index (SOX) shows a 1.4% decline. This price action has contributed to the loss in the information technology sector (-1.0%).

The only other sector trading lower is consumer discretionary (-0.1%), clipped by declines in its mega cap constituents. 

Meanwhile, the energy sector leads the pack as oil prices climb. WTI crude oil futures are back above $70.00/bbl, up 2.4% from Friday at $70.34/bbl.