Stock Market Update

[BRIEFING.COM] We'll be following the bouncing mega-cap ball today, because that is what has been driving the market cap-weighted indices.

The Vanguard Mega-Cap Growth ETF (MGK), which we use as a proxy for the showing by the mega-cap cohort, has been up as much as 0.9%, down by as much as 1.3%, and is now flat.

The market cap-weighted S&P 500 (+0.2%) has vacillated along the same lines, but has a performance edge thanks to the outperformance of the financial (+1.6%) and energy (+1.2%) sectors that has been supplemented by nice gains in the industrials (+0.9%) and consumer staples (+0.6%) sectors.

NVIDIA (NVDA 127.25, -4.03, -3.1%), the stock everyone is watching, remans under wraps but has moved off its session low of 125.28, finding some support after briefly violating its 200-day moving average (126.59).