Stock Market Update

[BRIEFING.COM] Today's session has been lackluster at the index level. The S&P 500 (+0.1%), Nasdaq Composite (-0.1%), and Dow Jones Industrial Average (-0.2%) have traded close to the unchanged mark through the entire session. 

There was an initial move higher at the open that saw the S&P 500 near its all-time high, again. The index reached 6,125 at its high, just three points shy of its record. This price action has contributed to the lackluster showing in the equity market.

Losses in some mega cap names have also contributed to the lackluster index-level action. Apple (AAPL 244.03, -0.59, -0.2%), Meta Platforms (META 715.97, -20.77, -2.8%), and Amazon (AMZN 255.14, -3.57, -1.6%) are some of the influential names in the space. The stocks comprise 14% of the S&P 500 in terms of market capitalization. 

The overall vibe is still positive, though. Advancers lead decliners by a 3-to-2 margin at both the NYSE and at the Nasdaq.  

Some names that report earnings after today's close show outsized gains. Occidental Petro (OXY 48.97, +0.91, +1.9%), Devon Energy (DVN 35.32, +0.68, +2.0%), Arista Networks (ANET 110.26, +3.39, +3.2%), and Cadence Design Systems (CDNS 298.32, +3.13, +1.1%) are standouts in that respect.

Reviewing today's economic data:

• February Empire State Manufacturing 5.7 (Briefing.com consensus -2.0); Prior -12.6
• February NAHB Housing Market Index 42 (Briefing.com consensus 47); Prior 47