Stock Market Update

[BRIEFING.COM] The S&P 500 slipped below its 50-day moving average (5,506), which acted as support earlier. 

Only two S&P 500 sectors trade higher with the rate-sensitive utilities sector showing the largest gain, up 0.7%, amid dropping market rates. Meanwhile, energy (-1.1%) is the only sector down more than 0.6% as oil prices sit below $70.00/bbl.

The information technology sector is another influential laggard, down 0.5%, due to losses in its mega cap components.