Stock Market Update

[BRIEFING.COM] The stock market is mostly lower just before midday, with mega-cap tech weakness continuing to pressure the S&P 500 (-1.0%) and Nasdaq Composite (-1.6%), while weaker participation in the broader market pushes the DJIA (-0.6%) lower as well. 

The Vanguard Mega Cap Growth ETF is down 1.6% as the market's largest names once again fall behind. The information technology sector (-2.0%) is the top laggard, with weakness in NVIDIA (NVDA 185.96, -7.84, -4.05%) and other chipmaker names prompting a 3.3% retreat in the PHLX Semiconductor Index. 

Meanwhile, the communication services (-1.6%) and consumer discretionary (-1.9%) hold similar losses. Walt Disney (DIS 105.36, -11.28, -9.67%) is the worst-performing S&P 500 name after missing revenue expectations, putting additional pressure on the communication services sector. 

The health care sector (+0.9%) continues to rally despite the broader market weakness, and the energy sector (+0.9%) holds a similar gain as the price of oil increases $0.36 (+0.6%) to $58.85 per barrel. The consumer staples sector (+0.2%) holds a more modest gain, rounding out the three advancing S&P 500 sectors. 

Elsewhere, the Russell 2000 (-1.7%) and S&P Mid Cap 400 (-1.0%) are on the retreat. Decliners outpace advancers by a roughly 3-to-2 ratio on the NYSE and a roughly 7-to-3 clip on the Nasdaq.