Stock Market Update

[BRIEFING.COM] The S&P 500 and Dow Jones Industrial Average trade slightly lower while the Nasdaq Composite and Russell 2000 trade above prior closing levels. 

Many stocks are trading higher despite index performance. The Invesco S&P 500 Equal Weight ETF (RSP) sports a 0.2% gain and market breadth is positive. Advancers lead decliners by a 4-to-3 margin at the NYSE and by a 3-to-2 at the Nasdaq.

Outsized moves are mostly reserved for individual stocks with specific catalysts. Corning (GLW 42.76, +4.32, +11.2%) is the top performing S&P 500 component after raising guidance.

Mixed action in the mega cap space has contributed to the mixed look at the index level. NVIDIA (NVDA 128.21, +2.38, +1.9%), Apple (AAPL 226.58, +0.23, +0.1%), Broadcom (AVGO 1749.82, +45.51, +2.7%), and Eli Lilly (LLY 917.80, +3.23, +0.4%) are among the winners from the space while Meta Platforms (META 529.10, -10.81, -2.0%) shows a solid loss.

There's also some hesitation in play today in front of market-moving events this week, adding to the mixed feeling in the market. Specifically, the June Consumer Price Index and Producer Price Index are released on Wednesday and Thursday, respectively, and earnings season starts this week when large cap banks like JPMorgan Chase (JPM 204.56, -0.24, -0.1%), Wells Fargo (WFC 58.81, -0.81, -1.4%), and Citigroup (C 64.49, +0.46, +0.7%) report.

Today's economic data is limited to the May Consumer Credit report at 3:00 p.m. ET.