Stock Market Update

[BRIEFING.COM] The indices hit a little air pocket, yet the S&P 500 managed to find support at 5,900, although it is near its lows for the day.

Not seeing a news catalyst to account for the recent weakness, as it may just be a case of some skittishness and consolidation interest in front of NVIDIA's (NVDA 136.77, +1.27, +0.9%) earnings report after the close.

The bar is high for NVIDIA, which is up 58% from its low on April 7. Some sell-the-news action to a good report wouldn't be a surprise, but given the scope of gains since the April low, a disappointment of some kind could produce a material selloff that has a domino effect across the AI landscape.

NVIDIA's relative strength in today's session, though, has been an important underpinning factor for the information technology sector (+0.3%), which is today's best-performing sector. In a related trade, the Philadelphia Semiconductor Index is up 0.3%.