Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.35%) is in second place among the major averages, down just shy of 20 points.

Briefly, S&P 500 constituents Gartner (IT 417.20, -32.23, -7.17%), Microchip (MCHP 51.68, -2.89, -5.30%), and EPAM Systems (EPAM 172.26, -8.61, -4.76%) pepper the bottom of the average. IT slips today after rumors the government has canceled some of the company's contracts, MCHP filed an automatic mixed securities shelf offering and news circulated that the company had engaged Macquarie Group to oversee the marketing and sale of its Fab 2 wafer facility in Arizona, while EPAM appears to be weaker in part due to IT services peer Accenture's (ACN 300.25, -24.22, -7.46%) reported bookings down 3% yr/yr, citing uncertainty related to DOGE implications.

Meanwhile, Jabil (JBL 146.79, +7.31, +5.24%) is atop the standings following earnings and guidance.