Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2), Nasdaq Composite (-0.5%), and DJIA (+0.2%) are mixed shortly after the open, with tech weakness once again weighing against broader-market strength. 

Broadcom (AVGO 370.87, -35.50, -8.74%) is down sharply following its earnings report yesterday, pressuring the top-weighted information technology sector (-1.3%) and the PHLX Semiconductor Index (-1.7%). 

The energy sector (-0.2%) holds a modest loss, while nine S&P 500 sectors trade higher. 

Similar to recent sessions, cyclical sectors are outperforming again today. The materials sector (+0.8%) tops the leaderboard after a 2.3% advance yesterday. 

Meanwhile, the consumer discretionary sector (+0.7%) holds a similar gain. lululemon athletica (LULU 210.68, +23.66, +12.65%) trades sharply higher after its own earnings report, while Tesla (TSLA 461.98, +15.09, +3.38%) holds a solid gain despite a report from Reuters that the company's U.S. sales have fallen to a four-year low.