Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.4%), and DJIA (-0.3%) are lower across the board, though they have steadily improved from their opening levels this morning.

The conflict between the U.S. and Iran is at the forefront of the market's attention today, as crude oil prices surge while international travel is disrupted. Crude oil is currently up $3.91 (+5.8%) to $70.93 per barrel. Unsurprisingly, the energy sector (-1.5%) is out in front this morning, as it is one of just three S&P 500 sectors to hold a gain. 

Losses are the widest in the consumer discretionary sector (-2.1%), with particular weakness in Norwegian Cruise Line (NCLH 21.67, -3.12, -12.59%) as a revenue miss compounds with the broader weakness in travel-related names today. 

Meanwhile, the top-weighted information technology sector (+0.2%) has made a move into positive territory. Palantir Technologies (PLTR 143.41, +6.22, +4.53%) is up nicely amid the conflict in Iran, and software stocks as a whole have a positive tilt today, with the iShares GS Software ETF up 0.7%. Though there is some broader weakness across semiconductor and mega-cap stocks today, NVIDIA (NVDA 179.26, +2.07, +1.17%) also holds a solid early gain. 

The final S&P Global U.S. Manufacturing PMI registered at 51.5 from a preliminary reading of 51.2. 

Just released, the February ISM Manufacturing Index came in at 52.4% (Briefing.com consensus 52.1%), from a prior level of 52.6%.