Stock Market Update

[BRIEFING.COM] The major indices have been backsliding for the better part of the past three hours, moving lower in an orderly fashion with a drawdown in the mega-cap stocks applying most of the pressure.

The Vanguard Mega-Cap Growth ETF (MGK) is down 0.8% after being up 0.4% earlier. That slide has come ahead of earnings reports next week from Microsoft (MSFT 442.32, -4.39, -1.0%), Apple (AAPL 222.73, -0.93, -0.4%), Meta Platforms (META 645.57, +9.12, +1.4%), Amazon.com (AMZN 233.40, -2.02, -0.9%), and Tesla (TSLA 408.86, -3.52, -0.9%).

Notably, breadth is positive at the NYSE and the Nasdaq, but it's worth pointing out that the Russell 2000 (-0.2%) and S&P Midcap 400 Index (-0.2%) have not been exempt from the retreat.