Stock Market Update

[BRIEFING.COM] There has been an abatement in the selling pressure that dropped each of the indices into negative territory. Overall, they are now little changed from yesterday's close.

The latter is a more even-keeled disposition given (a) the losses seen over the last four sessions, some of which were material for a number of stocks and (b) the specter of NVIDIA's (NVDA 129.77, +3.14, +2.5%) earnings report after the close, which will also be accompanied by the earnings report from Dow component Salesforce (CRM 308.40, +2.52, +0.8%).

The earnings report from NVIDIA is certain to be a market-moving report -- if not the report itself, the reaction to the report. That is why it makes more sense for the stock market to assume more of a neutral posture going into that report.

There is ample time left in the session to change the tone (for better or worse), and the mega-cap stocks -- like yesterday -- will have a guiding hand in that respect.