Stock Market Update

[BRIEFING.COM] Equity indices remain just above their flat lines with the S&P 500 (+0.2%) seeking its third consecutive advance.

Investor sentiment took a hit after today's disappointing economic data, but the market has not given in to selling pressure that easily. Four sectors trade lower, but only utilities (-0.7%) and the consumer discretionary sector (-0.5%) are down more than 0.2% at this juncture.

The discretionary sector owes some of its underperformance to a weak showing from second-largest component Tesla (TSLA 332.06, -12.21, -3.6%), which is deepening its pullback from levels not seen since early February after it was reported that sales of vehicles made in China were down 15% yr/yr in May while European sales decreased for the fifth consecutive month, according to Reuters.