Stock Market Update

[BRIEFING.COM] The major averages continue to trade in a relatively stable range firmly below their baselines at midday. 

The Trade Desk (TTD 23.57, -1.50, -5.98%) is the worst-performing S&P 500 stock today following a Stifel downgrade to Hold from Buy. The downgrade followed reports that Publicis Groupe, the world's largest advertising holding company, has officially stopped recommending The Trade Desk to its clients as a preferred demand-side platform (DSP). Note that TTD shares fell 7.4% yesterday.

Meanwhile, stocks tied to Bitcoin and other cryptocurrencies, such as Coinbase Global (COIN 202.93, -7.30, -3.47%) and Strategy Inc (MSTR 142.17, -8.11, -5.40%), are also under pressure today as Bitcoin sinks 3.4%.