Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (flat), and DJIA (-0.5%) are mostly lower just before midday in a somewhat choppy trade as investors react to a full slate of earnings and rising oil prices.

The major averages recently retreated from their late-morning highs, which leaves just four S&P 500 sectors in positive territory.

The energy sector (+1.3%) outperforms as oil prices increase $5.545 (+5.5%) to $105.38 per barrel amid indications that the U.S. is preparing for a prolonged blockade of Iran.

Elsewhere, earnings are a key driver of price action. Strength in Visa (V 337.24, +27.94, +9.03%) is helping keep the financials sector (+0.1%) modestly higher, while T-Mobile US (TMUS 196.59, +9.87, +5.29%) leads gains in communication services (+0.3%), and Seagate Tech's (STX 661.70, +82.67, +14.28%) strong earnings report is helping stabilize semiconductor names, limiting losses in the information technology sector (flat).

So far, the Vanguard Mega Cap Growth ETF is down 0.3% ahead of a crucial evening of earnings reports that will include releases from Amazon (AMZN 263.89, +4.19, +1.61%), Alphabet (GOOG 349.31, +1.81, +0.52%), Meta Platforms (META 671.37, +0.03, +0.00%), and Microsoft (MSFT 424.48, -4.77, -1.11%).

Outside of the S&P 500, the Russell 2000 (-0.5%) and S&P Mid Cap 400 (-0.6%) hold losses comparable to the DJIA (-0.5%).