Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.4%), Nasdaq Composite (-0.2%), and DJIA (-0.8%) are slightly improved from previous levels as the top-weighted information technology sector (+0.1%) has surfaced above its flatline.

NVIDIA (NVDA 187.00, +0.14, +0.07%), Microsoft (MSFT 505.46, +2.17, +0.43%), and Apple (AAPL 273.72, +0.78, +0.28%) are all slightly higher, suggesting the market's largest tech names may have finally reached their bottom points of this week's slide. 

Meanwhile, Kansas City Fed President Jeffrey Schmid (voting FOMC member) has continued the recent trend of hawkish-leaning Fed commentary. Mr. Schmid said that he does not see additional interest rate cuts as potentially beneficial to the cracks in the labor market but worries they could have "long-lasting effects" on inflation.