Stock Market Update

[BRIEFING.COM] The major averages are slightly improved from their session lows, though a fierce buy-the-dip play would need to come to fruition quickly to bring them back to their baselines.

Ferrari (RACE 404.77, -74.44, -15.53%) is on track for its worst trading day ever on the New York Stock Exchange after the company disappointed investors with updated earnings guidance. 

Meanwhile, Tesla (TSLA 435.22, -3.47, -0.79%) has substantially narrowed its loss for the day after being down 2.7% this morning. With Amazon (AMZN 226.79, +1.57, +0.70%) also reversing an earlier loss, the consumer discretionary sector (-0.3%) is no longer among the worst-performing S&P 500 sectors today. 

The Vanguard Mega Cap Growth ETF (-0.2%) has halved its earlier loss, and the market-weighted S&P 500 (-0.4%) now considerably outperforms the S&P 500 Equal Weighted Index (-0.9%).