Stock Market Update

[BRIEFING.COM] For the first time this week, the S&P 500 (-0.3%), Nasdaq Composite (-0.6%), and DJIA (+0.3%) did not open to record highs this morning as the recent mega-cap rally finally met some resistance. 

The Vanguard Mega Cap Growth ETF is down 1.2% in the early going as Meta Platforms (META 663.01, -88.66, -11.80%) and Microsoft (MSFT 530.56, -10.99, -2.03%) trade lower after earnings, while NVIDIA (NVDA 202.39, -4.65, -2.25%) and Tesla (TSLA 448.74, -12.77, -2.77%) face some profit taking after impressive performances this week. 

As a result, the communication services (-1.0%), consumer discretionary (-1.2%), and information technology (-0.7%) sectors hold the widest losses. 

Five S&P 500 sectors trade higher, mostly consisting of sectors that have been overlooked this week amid the mega-cap rally. 

The health care sector (+0.5%) is off to a strong start, supported by leadership from its largest component, Eli Lilly (LLY 827.96, +14.44, +1.77%), after an earnings beat. Cardinal Health (CAH 192.08, +27.61, +16.79%) surges higher after an earnings beat of its own. 

Investors have plenty of earnings reports to examine this morning, with several sectors' top- or bottom-performing names having reported before the open.