Stock Market Update

[BRIEFING.COM] The stock market is off to a lackluster start to the week, with the S&P 500 (flat), Nasdaq Composite (flat), and DJIA (-0.1%) little changed as last week's tech and mega-cap leadership cools off.

Semiconductor stocks are notably lower, with the PHLX Semiconductor Index (-1.9%) giving back roughly half of Friday's gains. Coherent (COHR 318.64, -17.45, -5.19%) and Advanced Micro Devices (AMD 333.86, -13.95, -4.01%) are among today's laggards, though memory names such as MU are sharply higher, while NVIDIA (NVDA 213.09, +4.82, +2.31%) and Intel (INTC 83.76, +1.22, +1.48%) also help offset some of the early weakness.

Elsewhere in the sector, Apple (AAPL 266.47, -4.59, -1.69%) is a "Magnificent Seven" laggard. All told, the top-weighted information technology sector is down 0.2%.

The consumer discretionary sector (-0.5%) remains one of the worst-performing S&P 500 sectors, though it is considerably improved from earlier lows as mega-cap names shake off some of their opening weakness. Tesla (TSLA 373.74, -2.56, -0.68%) continues to drift lower as investors react to a vaguely worded increase in capital expenditures in last week's earnings release, though the stock has seen a notable intraday recovery.

Today's batch of earnings results included Domino's Pizza (DPZ 331.25, -36.58, -9.94%), which is the worst-performing S&P 500 component after reporting mixed Q1 results, with shares under pressure following a second consecutive EPS miss and softer-than-expected same-store sales trends.

Meanwhile, Verizon (VZ 47.52, +1.14, +2.47%) is nicely higher after beating EPS expectations, missing revenue expectations, and raising its FY26 guidance above expectations. The stock helps lead the communication services sector (+1.4%), which is also supported by Alphabet's (GOOG 349.44, +7.12, +2.08%) push to fresh record highs. Alphabet is a standout among the "Magnificent Seven" cohort ahead of its earnings release on Wednesday, with four other members of the group also set to report this week.

The Vanguard Mega Cap Growth ETF is now flat after spending most of the morning in negative territory, helping the major averages recover from their session lows.

Leadership remains narrow, however, with just the financials (+0.7%) and utilities (+0.1%) sectors joining communication services in positive territory.

Even the energy sector (-0.4%) trades lower despite oil rising $2.07 (+2.2%) to $96.47 per barrel.

Geopolitical headlines remain relatively subdued following the cancellation of U.S.-Iran talks over the weekend, and the lack of volatility on that front is contributing to today's muted price action as investors position for a busy week of mega-cap earnings and an upcoming FOMC decision.

There is no economic data of note today.