Stock Market Update

[BRIEFING.COM] Stocks are mostly lower shortly before midday, with broad weakness keeping the S&P 500 (-0.5%), Nasdaq Composite (-0.6%), and DJIA (-0.9%) seated with similar losses. The smaller-cap Russell 2000 (-1.2%) and S&P Mid Cap 400 (-0.9%) continue this week's trend of underperformance relative to the major averages. 

Eight S&P 500 sectors trade lower, with the materials sector (-1.6%) facing the widest loss as gold and silver face a sharp retreat today. 

The top-weighted information technology sector (-0.8%) is also among the laggards, with Apple (AAPL 256.28, -2.00, -0.77%) trading modestly lower despite topping earnings expectations, while Microsoft (MSFT 430.53, -2.97, -0.69%) fails to garner any "buy the dip" interest following a double-digit retreat yesterday. 

Tesla (TSLA 437.65, +21.09, +5.06%), for its part, has done a better job, helping the consumer discretionary sector (+0.2%) trade modestly higher. 

However, the Vanguard Mega Cap Growth ETF (-0.7%) faces another notable pullback, weighing on the major averages. 

That's not to say that the rest of the market is performing well, as most corners of the market are under pressure. Decliners outpace advancers by a greater than 3-to-1 ratio on both the NYSE and the Nasdaq.