Stock Market Update

[BRIEFING.COM] Despite an increase in sector strength that now has six S&P 500 sectors trading in positive territory, the major averages continue to chart new session lows, largely due to a narrowing gain in the information technology sector (+0.5%). 

The financials sector (-1.1%) widens its loss today, making it the second worst-performing S&P 500 sector, behind the health care sector (-1.6%). The sector faces pressure across the vast majority of its components, with payment card companies such as Visa (V 331.46, -8.28, -2.44%), Mastercard (MA 557.50, -11.63, -2.04%), and American Express (AXP 291.20, -4.34, -1.47%) seeing losses.

Elsewhere in the sector, Apollo Global Management (APO 140.01, -5.86, -4.02%) is the worst-performing stock after the company reported earnings Tuesday after the close.