Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (flat), and DJIA (flat) sit well improved from earlier session lows just before midday as the information technology sector (-0.2%) recovers the bulk of its early loss. 

Smaller-cap stocks are also facing modest pressure today, with the Russell 2000 (-0.3%) and S&P Mid Cap 400 (-0.1%) holding similar losses after outperforming last week. 

Stocks have spent most of the session in a similar fashion to that of previous sessions, with tech and mega-cap weakness weighing against relatively solid participation in the broader market. 

Oracle (ORCL 184.38, -5.58, -2.94%) and Broadcom (AVGO 346.67, -13.26, -3.68%) extend their post-earnings slide, though strength in NVIDIA (NVDA 177.93, +2.91, +1.66%) and other chipmakers sends the PHLX Semiconductor Index 0.7% higher, helping offset losses elsewhere. 

Cyclical and defensive sectors continue to outperform amid the lingering weakness in tech. The consumer discretionary sector (+0.8%) holds a solid gain, supported by strong leadership from Tesla (TSLA 479.51, +20.55, +4.48%). Cruise lines, hotels, and other travel services are also outperforming today. 

The health care sector (+0.9%) holds a similar gain and is also supported by a top component, Eli Lilly (LLY 1056.34, +28.83, +2.81%). 

Six S&P 500 sectors currently hold gains amid mixed breadth figures. Advancers outpace decliners by just a handful of names on the NYSE, while decliners hold a roughly 3-to-2 edge on the Nasdaq.