Stock Market Update

[BRIEFING.COM] Today's trade has been lackluster thus far. There's not a strong draw to buy or sell without any influential catalysts and with major indices at or near all-time highs. The underlying bias is negative, but major indices have stuck close to their prior closing levels today.

Decliners have a 3-to-2 lead over advancers at the NYSE and a 9-to-5 lead at the Nasdaq. The equal-weighted S&P 500 trades 0.3% lower and none of the S&P 500 sectors are moving more than 0.6% in either direction. The communication services (+0.6%) and information technology (+0.1%) sectors trade above prior closing levels, reflecting leadership from some mega cap names. 

Apple (AAPL 241.66, +2.07, +0.9%) and Meta Platforms (META 605.18, +12.35, +2.1%) are standouts in that regard, reaching fresh 52-week highs today. Fellow mega cap Tesla (TSLA 350.00, -7.10, -2.0%) has been under selling pressure after CEO Elon Musk's pay package was again rejected by a Delaware judge, according to Bloomberg, and after China-produced electric vehicle sales fell 4.3% in November, according to Reuters.

The loss in Tesla has contributed to the loss in the consumer discretionary sector (-0.1%). Other sectors trading lower include the industrial (-0.5%) and financial (-0.4%) sectors. 

Treasuries have exhibited mixed price action, contributing to the lackluster moves in equities. The 10-yr yield, which hit 4.17% earlier, sits at 4.21% now. This followed the release of the JOLTS - Job openings report, which totaled 7.744 million in October, up from a revised count of 7.372 million in September (from 7.443 million).