Stock Market Update

[BRIEFING.COM] The major averages have pulled back noticeably from their midday session highs, but have managed to bounce from their worst levels of the session reached a short time ago with the S&P 500 now up only 0.1% . 

Four sectors now trade in negative territory, with energy (-0.7%), materials (-0.2%), healthcare (-0.3%), and technology (-0.1%) pace the recent decline.

Mega-cap stocks have set the pace for the market this week, but have since pulled back from earlier gains with companies such as Tesla (TSLA 320.01, -5.77, -1.77%), Broadcom (AVGO 268.21, -1.96, -0.73%), and Microsoft (MSFT 495.17, -2.28, -0.46%) among the laggards. The Vanguard Mega Cap Growth Index Fund (MGK 363.04, +0.52, +0.14%) is up 0.1% for the session after being up 0.8%.

The industrials sector (+0.%) has emerged as the strongest performer of the day, led by top component GE Aerospace eclipsing a new all-time high. A strong showing from defense stocks has the ITA iShares DJ Aerospace (ITA 186.48, +1.98, +1.1%) at a new record high.