Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.6%), Nasdaq Composite (-0.7%), and DJIA (-1.1%) are lower across the board shortly after the open.

Strength in the broader market is mixed, with five S&P 500 sectors trading higher. 

The consumer discretionary sector (-2.1%) is an early laggard. Domino's Pizza (DPZ 403.40, +18.79, +4.89%) trades higher despite an earnigns miss, while the majority of the sector's other components give back gains from Friday as the market reacts to President Trump's decision to raise Section 122 global tariffs to 15% after the Supreme Court struck down his IEEPA tariffs. 

lululemon athletica (LULU 177.78, -9.52, -5.08%) is a laggard, while DoorDash (DASH 163.28, -13.01, -7.38%) gives back a chunk of its post-earnings gains. 

The financials sector (-1.5) also weighs on the market. Weakness is broad-based within the sector, though asset managers such as Ares Management (ARES 117.06, -6.10, -4.95%) and Blackstone (BX 115.22, -6.04, -4.98%) continue to face the widest losses after the group fell under scrutiny last week. 

Meanwhile, the health care sector (+1.0%) is an early standout, benefiting from some countercyclical interest that has the utilities (+1.0%) and consumer staples (+0.8%) sectors up similarly. Eli Lilly (LLY 1043.63, +34.11, +3.38%) posts a solid gain after Novo Nordisk A/S' (NVO 40.42, -7.00, -14.76%) new weight loss drug disappointed in trials, while Moderna (MRNA 53.84, +3.97, +7.96%) trades even higher.

The energy sector (+1.1%) holds the widest gain as crude oil prices are on the rise this morning amid lingering geopolitical tensions between the U.S. and Iran. 

Just released, December Factory Orders decreased 0.7% (Briefing.com consensus 0.9%) from a prior increase of 2.7%.