Stock Market Update

[BRIEFING.COM] The major averages are little changed from previous levels, as only the communication services (+0.8%), information technology (+0.4%), and energy (+0.1%) sectors trade above their flatlines.

The communication services sector benefits from strong leadership in some of its top components, as Alphabet (GOOG 209.88, +3.16, +1.53%) eclipsed a new record high, while Netflix (NFLX 1227.46, +22.81, +1.89%) has traded above its 50-day moving average (1229.98). 

Elsewhere in the technology world, Reuters reports that Elon Musk's xAI is suing Apple (AAPL 228.80, +1.04, +0.46%) and OpenAI over an alleged antitrust conspiracy in the AI market.