Stock Market Update

[BRIEFING.COM] Stocks have moved off their lows of the session over the past 90 minutes. The S&P 500 earlier moved below 7,300 but has since reclaimed that level as today's losses have been pared.

Today's weakness is concentrated in the tech stocks (and growth stocks). The rest of the market has held up fine, evidenced by the 0.2% increase in the equal-weighted S&P 500 versus the 0.9% decline for the market cap-weighted S&P 500. The Russell 3000 Value Index is down 0.2% versus a 1.4% decline for the Russell 3000 Growth Index.

Breadth figures bear this out as well. Advancing issues lead declining issues by a 5-to-4 margin at the NYSE. At the Nasdaq, declining issues lead advancing issues by a 13-to-10 margin.