Stock Market Update

[BRIEFING.COM] The stock market opened to pressure in its mega-cap and tech names, which keeps the S&P 500 (-0.1%) and Nasdaq Composite (-0.3%) pinned beneath their baselines, while strength in the broader market has the DJIA (+0.2%) seated with a modest gain. 

The information technology (-0.7%) sector is the top laggard so far, unsurprisingly subject to some modest profit-taking after the sector rose over 2.5% yesterday amid a solid mega-cap rally. 

NVIDIA (NVDA 193.85, -5.20, -2.61%) is down following reports that Softbank (SFTBY 76.90, +4.50, +6.22%) sold all of its NVIDIA shares for $5.8 billion, weighing on both the Vanguard Mega Cap Growth ETF (-0.4%) and the PHLX Semiconductor Index (-1.5%). 

Sector strength is improving elsewhere, with just three sectors trading beneath their baselines. 

Meanwhile, the energy sector (+1.3%) leads the five advancing sectors as the price of oil increases $0.84 (+1.4%) to $60.97, while the health care sector (+0.8%) also jumps out to a nice start.