Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.5%) and Nasdaq Composite (+0.4%) continue to benefit from strength in some of the market's largest tech names, while a loss in the DJIA (+0.5%) reflects there are some softer pockets in today's market. 

While Oracle's (ORCL 342.62, +101.11, +41.87%) surge has benefitted other large tech names such as NVIDIA (NVDA 177.98, +7.22, +4.23%) and Broadcom (AVGO 368.91, +32.24, +9.58%), other mega-caps are putting up mixed performances. 

Apple (AAPL 227.10, -7.25, -3.09%) trades lower after its product launch failed to deliver any notable surprises, while Amazon (AMZN 232.68, -5.56, -2.33%) and Meta Platforms (META 758.38, -7.32, -0.96%) tick lower as well.

Today's Oracle-led advance has still been to the mega-caps' benefit (the Vanguard Mega Cap Growth ETF is up 0.4%), but considerable losses across some of the market's largest names suggest investors may be reallocating capital out of certain mega-cap leaders to chase Oracle's outsized gains and its peers in the cloud and semiconductor space.