Stock Market Update

[BRIEFING.COM] The stock market has traded in mixed fashion thus far. Selling increased in recent trading, but the Dow Jones Industrial Average and S&P 500 traded in positive territory earlier. 

The Nasdaq Composite has lagged its peers, falling under the weight of mega cap losses. Microsoft (MSFT 387.31, -4.61, 1.2%), Apple (AAPL 208.44, -0.80, -0.4%), Amazon.com (AMZN 185.49, -3.51, -1.9%), and Meta Platforms (META 545.13, -2.14, -0.4%) are drawing added attention in the space in front of their earnings reports this week. 

In addition to a huge wave of earnings news, market participants receive some influential economic reports this week. The lineup includes the Adv. Q1 GDP Report, the March Personal Income and Spending Report, the April ISM Manufacturing Index, and the April Employment Situation Report.

The mixed showing in equities reflects hesitation in front of the aforementioned events. There's also some profit-taking in play after last week's gains. 

Nine of the 11 S&P 500 sectors are lower with the heavily-weighted technology sector showing the largest decline. Other notable laggards include the consumer discretionary (-1.3%) and communication services (-0.7%) sectors, reflecting outsized losses in mega cap stocks. The utilities (+0.2%) and energy (+0.2%) sectors are alone in the green. 

There was no US economic data of note today.