Stock Market Update

The stock market is now on track for a lower opening, with equity futures having reversed earlier premarket gains. 

Mega-cap tech is now mostly lower in the premarket, setting up for what could be another session of unwinding across momentum names. 

The major averages will once again look to defend their 50-day moving averages, as the S&P 500 and Nasdaq Composite slipped beneath the key support level before closing higher in Friday's action.