Stock Market Update

[BRIEFING.COM] The indices have slipped back into negative territory. The S&P 500, for its part, has been restricted thus far from climbing back above the 5,700 level. It also remains pinned below its 200-day moving average (5,748), which is a key technical resistance point market participants are closely watching.

There isn't any acute weakness today from a sector standpoint. The biggest laggards are the consumer staples (-0.3%) and materials (-0.3%) sectors.

There is some notable weakness in individual stocks, like Expedia (EXPE 154.76, -14.23, -8.4%) and Akamai Technologies (AKAM 78.75, -6.69, -7.8%), both of which reported earnings results after yesterday's close. They are the worst-performing components in the S&P 500.

Expedia issued downside Q2 revenue guidance and acknowledged that it is seeing weaker-than-expected travel demand in the U.S. and into the U.S. Going into its report, Akamai had surged 25% from its close on April 8.