Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.6%), and DJIA (+0.5%) once again notched fresh record highs as NVIDIA (NVDA 208.46, +7.43, +3.69%) furthers its impressive rally, surpassing $5 trillion in market capitalization. The small-cap Russell 2000 (+0.2%) and S&P Mid Cap 400 (+0.1%) hold modest gains after retreating yesterday. 

The information technology sector (+1.0%) leads the advance, while the broader market is mixed. Five S&P 500 sectors hold gains, while six move lower. 

Mega-caps continue to pace the index-level gains, with the market-weighted S&P 500 (+0.2%) outperforming the S&P 500 Equal Weighted Index (-0.4%). Week-to-date, the market-weighted S&P 500 is up 1.7%, while the equal-weighted index is down 0.9%. 

Several blue-chip names also trade higher after reporting earnings this morning, including Caterpillar (CAT 592.59, +68.12, +12.99%). 

As for today's laggards, the real estate sector (-1.5%) widens its week-to-date loss to 3.5%, the consumer staples sector (-1.4%) faces pressure in the majority of its components, and the financials sector (-0.9%) trades lower as Fiserv (FI 73.48, -52.69, -41.76%) plummets to multi-year lows following a substantial earnings miss and downside guidance. 

While a hefty slate of earnings reports gives investors plenty to assess today, headlines are relatively quiet. The market awaits the FOMC's decision at 2:00 p.m. ET (which is widely expected to produce a 25-basis point rate cut), President Trump is still set to meet with Chinese President Xi, and the mega-cap names that report earnings after the close are not making outsized moves in any direction.