Stock Market Update

[BRIEFING.COM] There isn't a lot of buying conviction in the early going, but the real point is that there isn't much selling conviction either. The stock market continues to trade with an air of resilience despite many assertions that it is overbought on a short-term basis and due for a pullback.

Early support today has been provided by the small-cap stocks and mega-cap stocks. Key leadership groups include semiconductors and energy.

There are six S&P 500 sectors trading lower, with losses ranging from 0.1% to 0.8%. The financials sector is the biggest laggard without any headline catalyst contributing to its weakness.

Losses in the financials sector, though, are being more than offset by the gain in the information technology sector (-0.8%), which is the market's most heavily weighted sector.