Stock Market Update

[BRIEFING.COM] The stock market remains set in its ways, which have favored taking a break from the rapid rebound pace off the August lows.

The strength in NVIDIA (NVDA 123.44, +2.57, +2.1%) has been a key support factor all day, but it hasn't been enough to spur broad-based buying interest. Presumably, there is an element of hesitation in the tape ahead of Micron's (MU 95.20, +1.20, +1.3%) earnings report after the close and the weekly initial jobless claims report before Thursday's open.

The financial sector (-0.6%) continues to underperform, but in a reversal from yesterday, other cyclical sectors are also underperforming today. Energy (-1.9%) is the biggest laggard but has a brigade of followers that includes the materials (-0.5%), industrials (-0.4%), and consumer discretionary (-0.4%) sectors.

Health care (-0.9%) is a counter-cyclical laggard, feeling the weight of losses in Amgen (AMGN 312.23, -17.69, -5.4%), which reported some disappointing data on two drugs, according to CNBC.