Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%) still holds a modest gain, while the Nasdaq Composite (-0.1%) has slipped below its baseline after setting a new record high this morning. 

Several of the market's largest tech names propelled the market to record highs this morning, but the rally was not shared across all the mega-caps. Widening losses in Amazon (AMZN 230.14, -8.10, -3.40%), Apple (AAPL 226.80, -7.54, -3.22%), and Meta Platforms (META 755.76, -9.94, -1.30%) have had a noticeable effect on the major averages and now seat the Vanguard Mega Cap Growth ETF (-0.1%) with a modest loss.

For what it is worth, Oracle (ORCL 326.30, +84.78, +35.11%) is also off earlier highs that saw its gain buoy past 40%. The Wall Street Journal reported that Oracle and OpenAI have signed a $300 billion five-year contract.