Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%) and Nasdaq Composite (+0.2%) are back near their unchanged levels, while the DJIA (-0.6%) continues to underperform. 

The communication services sector (-0.8%) is at the bottom of today's leaderboard, falling back towards session lows from this morning. 

Despite a relative uptick across mega-caps today, the sector faces pressure from its largest component, Alphabet (GOOG 276.99, -2.13, -0.76%).

Meanwhile, Netflix (NFLX 1116.83, -37.40, -3.24%) is the weakest performer in the sector, falling back below its 200-day moving average (1130.77). The company is preparing a bid for Warner Bros. Discovery (WBD 22.86, +0.72, +3.27%), according to The Wall Street Journal. Paramount Skydance's (PSKY 15.47, +0.10, +0.63%) $23.50 per share bid was rejected, but its integration strength and DTC momentum still position it as a resilient bidder.

Comcast (CMCSA 27.49, -0.48, -1.73%) is also reportedly preparing a bid ahead of the November 20 deadline.