Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (-0.3%), and DJIA (+0.1%) are mixed just after the open as tech and mega-cap names face some modest early pressure after yesterday's rally.

The consumer discretionary sector (-1.3%) holds the widest loss as Amazon (AMZN 235.98, -5.53, -2.29%) is a "magnificent seven" laggard.

Meanwhile, the information technology sector (-0.5%) holds a more modest loss, though Microsoft (MSFT 383.03, -7.31, -1.87%) is extending yesterday's slide. The Vanguard Mega Cap Growth ETF is down 0.3%.

The materials sector (+1.3%) remains a top-performer with particular strength across chemical names, while the energy sector (+1.2%) also holds a nice gain as oil prices begin to move off their earlier lows.

Just released, the preliminary reading of the June University of Michigan Consumer Sentiment Survey checked in at 48.9 (Briefing.com consensus 46.2) from the final May reading of 44.8.