Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (-0.3%), and DJIA (+0.2%) sit mixed near their baselines shortly after the open, as a lack of macro catalysts and some weakness in mega-cap names weigh against a strong morning of earnings reports. 

Eight S&P 500 sectors trade in negative territory, with the materials sector (-1.2%) holding the widest loss. Newmont Corporation (NEM 87.00, -7.90, -8.32%) moves sharply lower in sympathy with lower gold prices today, with gold futures currently down $170.30 (-4.0%) to $4189.10 per ozt. 

Meanwhile, the consumer discretionary sector (+0.7%) holds the widest gain, supported by General Motors (GM 65.22, +7.22, +12.44%), which trades higher after beating top and bottom line figures and raising its FY25 EPS and EBIT guidance. 

Amazon (AMZN 220.51, +4.03, +1.86%) also provides strong leadership, holding the widest gain of any "magnificent seven' name so far. 

Mega-caps as a whole are putting up mixed performances, which is certainly preventing gains at the index level. The Vanguard Mega Cap Growth ETF is down 0.3%.