Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.3%), and DJIA (-0.3%) are lower this morning as the market faces broad weakness. 

All eleven S&P 500 sectors trade lower, though the losses are generally modest. 

The materials sector (-1.6%) is a laggard as Newmont Corporation (NEM 119.69, -7.24, -5.70%) and Freeport-McMoRan (FCX 61.35, -3.78, -5.80%) trade sharply lower amid a considerable pullback in precious metals prices. Gold futures are down nearly 5%, while silver futures are down over 12%. 

Losses elsewhere are limited to 0.7% or narrower, with several sectors wrestling with their unchanged levels. The consumer discretionary sector (-0.1%) is the "best" performing sector so far, with a solid rebound in Tesla (TSLA 426.57, +10.01, +2.40%) helping to mask broader losses. 

Microsoft (MSFT 435.12, +1.62, +0.37%) also sees the slightest of improvements from yesterday's slide, while Meta Platforms (META 724.00, -14.31, -1.94%) gives back a chunk of its previous strength. 

Meanwhile, Apple (AAPL 255.03, -3.25, -1.26%) trades lower despite topping earnings estimates after the close yesterday. 

Earnings continue to be a driver of price action this morning, with Sandisk (SNDK 639.06, +99.76, +18.50%), Deckers Outdoor (DECK 111.80, +11.90, +11.92%) and KLA Corporation (KLAC 1536.59, -148.12, -8.79%) among some of the largest moves.