Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.8%), Nasdaq Composite (-1.4%), and DJIA (-0.2%) are lower this morning as mega-cap tech continues to slide, with less participation from the broader market than previous sessions this week. 

Eight S&P 500 sectors trade in negative territory, with the communication services (-1.3%), information technology (-1.1%), and consumer discretionary (-0.9%) sectors at the bottom of the leaderboard largely due to weakness in their mega-cap components. The Vanguard Mega Cap Growth ETF is down 1.0% in the early going. 

The communication services sector faces additional pressure in Walt Disney (DIS 107.01, -9.64, -8.26%), which trades sharply lower after posting a modest EPS beat but missing on revenues. 

Meanwhile, the health care sector (+0.9%) continues to display impressive strength this week despite today's broader market softness. The sector's early gain puts its week-to-date gain just around 5.5%, putting it on the cusp of a 52-week high.

The energy sector (+0.5%) also holds a nice gain as oil prices rebound modestly from yesterday's 4.1% slide.