Stock Market Update

[BRIEFING.COM] The health care sector (+2.1%) is a clear standout as the S&P 500 (-0.9%) remains under pressure at midday, benefiting from its defensive characteristics amid weakness in technology and other growth-oriented stocks. Gains in heavily weighted Eli Lilly (LLY 1212.74, +46.23, +3.96%), Johnson & Johnson (JNJ 251.55, +2.94, +1.18%), and AbbVie (ABBV 283.26, +8.90, +3.25%), which is approaching a record close, are providing much of the support. Biotechnology stocks are also holding up relatively well despite elevated Treasury yields, with the iShares Nasdaq Biotechnology ETF (+1.1%) recovering much of yesterday's decline.