Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.4%), Nasdaq Composite (-0.8%), and DJIA (+0.3%) are mostly lower this morning amid some weakness across mega-cap and tech names. 

Despite topping earnings estimates and issuing upside guidance, which initially saw the stock move higher following its earnings report, NVIDIA (NVDA 188.48, -7.15, -3.65%) is now retreating. The loss weighs on both the PHLX Semiconductor Index (-2.3%) and the broader information technology sector (-1.1%). 

Meanwhile, software stocks are off to another solid start, with the iShares GS Software ETF up 1.7%. Salesforce (CRM 196.70, +4.94, +2.58%) initially moved lower following its own earnings report that featured cautious guidance, but now holds a solid early gain. 

Elsewhere, the energy sector (-0.6%) lags as the price of oil decreases $0.99 (-1.6%) to $64.43 per barrel, while weakness in Alphabet (GOOG 307.09, -5.94, -1.90%) seats the communication services sector (-0.6%) with a similar loss. 

Only a handful of S&P 500 sectors trade meaningfully above their flatlines, though the financials sector (+1.4%) is once again a standout. Nearly all of its components trade higher, with particular strength across financial publishing names such as FactSet (FDS 214.54, +7.92, +3.83%). Even after posting a similar gain yesterday, the sector is up just 0.1% week-to-date after pronounced weakness earlier in the week.