Stock Market Update

[BRIEFING.COM] The stock market opened to lackluster action. The Nasdaq Composite (+0.5%) trades higher while the Dow Jones Industrial Average (-0.4%) trades below its prior close. The market-cap weighted S&P 500 has traded near its flat line so far. 

Disappointing earnings and guidance from Oracle (ORCL 174.49, -15.93, -8.4%) has led to a negative tone overall. Decliners lead advancers by a 9-to-4 margin at the NYSE and by a 5-to-3 margin at the Nasdaq. Also, the equal-weighted S&P 500 trades 0.7% lower.

Gains in the mega cap space have limited downside moves for the major indices. Apple (AAPL 247.43, +0.67, +0.3%), NVIDIA (NVDA 140.91, +2.10, +1.5%), and Alphabet (GOOG 185.51, +8.47, +4.7%) are among the influential winners, leading their respective S&P 500 sectors to trade higher.

Eight of the S&P 500 sectors trade lower with the materials (-1.4%), real estate (-1.1%), and utilities (-1.1%) sectors showing the largest losses.