Stock Market Update

[BRIEFING.COM] The S&P 500 (-1.3%), Nasdaq Composite (-1.3%), and DJIA (-1.5%) are lower across the board this morning as rising oil prices continue to put broad pressure on the market. 

Ten S&P 500 sectors hold early losses, with only the energy sector (+0.2%) trading modestly higher amid the surge in oil prices. Crude oil is currently up $9.11 (+10.0%) to $100.01 per barrel. 

The consumer discretionary sector (-2.7%) is the worst-performing S&P 500 sector this morning as all of its components trade lower. Tesla (TSLA 383.59, -13.14, -3.31%) is a "Mag Seven" laggard amid a tough morning for mega-cap stocks, while cruise lines and other travel-related names are once again some of the worst-performing S&P 500 names. 

The financials sector (-2.2%) holds a similar loss as asset managers face a continuation of recent weakness while major banking names also trade in the red. 

Similar to Friday's action, the defensive consumer staples (-0.4%) and health care (-0.5%) sectors hold more modest losses.