Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%) hovers just above its session low with ten sectors trading in the red while the communication services sector (+0.2%) is helping keep the broader market near its unchanged level.

Legacy media names like Warner Bros Discovery (WBD 9.91, +0.36, +3.7%), News Corp (NWS 32.85, +0.29, +0.9%), and Fox (FOX 51.45, +0.30, +0.6%) are contributing to the sector's outperformance while top component Alphabet (GOOG 174.37, +0.39, +0.2%), Meta Platforms (META 644.89, +2.57, +0.4%), and Netflix (NFLX 1209.84, -1.73, -0.1%) are mixed, but little changed overall. Netflix tagged a fresh record before turning negative while Alphabet is staying above its 200-day moving average (172.74) after showing strength last week.

Treasuries are on their lows with the 10-yr yield up six basis points at 4.50%.