Stock Market Update

[BRIEFING.COM] The major indices moved off their best levels of the morning. Some names in the mega cap and chipmaker spaces turned lower over the last half hour, coinciding with the indices moving off highs. 

The PHLX Semiconductor Index (SOX) still shows a 0.6% gain and the Vanguard Mega Cap Growth ETF (MGK) sports a 0.3% gain. NVIDIA (NVDA 132.77, -0.47, -0.3%) is an influential loser, leaving shares 1.1% lower since the start of the year. 

Microsoft (MSFT 416.58, -0.78, -0.2%), Alphabet (GOOG 191.94, -0.31, -0.2%), Eli Lilly (LLY 740.00, -57.48, -7.2%), and Meta Platforms (META 598.24, -11.92, -2.0%) are standouts from the sectors. Meta turned lower following reports that TikTok US is not going to be sold, including to Elon Musk. LLY shares are plunging after lowering Q4 revenue guidance.