Stock Market Update

[BRIEFING.COM] The stock market opened to declines at the index level. Profit-taking activity after a solid run this week has contributed to the downside bias, but losses are relatively limited. 

An earnings-related gain in Alphabet (GOOG 165.52, +4.09, +2.6%) has provided some support to the major indices and to the S&P 500 communication services sector (+1.2%). 

Eight of the 11 sectors are lower. The materials (-0.7%), health care (-0.7%), and consumer staples (-0.7%) sectors are the worst performers so far. 

The University of Michigan Consumer Sentiment survey rose to 52.2 in the final April reading (Briefing.com consensus 48.5) from 50.8.