Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.1%%), and DJIA (-0.2%) are modestly lower just before midday as the market navigates a sizable batch of earnings and shifting geopolitical developments. Stocks have given up their early gains following reports that Pakistani officials are still awaiting formal confirmation on whether the Iranian delegation will attend the next round of ceasefire talks.

After trading little changed for most of the session, crude oil is now up $2.29 (+2.6%) to $89.71 per barrel. The energy sector (+0.6%) moved into positive territory, though the bump in oil prices now leaves just two other S&P 500 sectors trading higher

The consumer discretionary sector (+0.2%) still trades higher as Amazon (AMZN 252.40, +4.12, +1.66%) moves higher after announcing a strategic collaboration with Anthropic. Homebuilders are also posting solid gains after DHI topped earnings expectations.

Meanwhile, the information technology sector (+0.1%)  holds on to a modest gain, supported by continued momentum across software stocks that push the iShares GS Software ETF 1.6% higher.

Other notable earnings reports include those of UnitedHealth (UNH 347.27, +23.79, +7.35%), GE Aerospace (GE 286.32, -17.28, -5.69%), 3M (MMM 148.60, -2.80, -1.85%), and Northern Trust (NTRS 167.24, +8.24, +5.19%).