Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%) and Nasdaq Composite (+0.3%) made a quick turnaround back into positive territory after slipping below their 50-day moving averages. 

The information technology sector (-0.4%) improved by nearly a whole percentage point despite a lack of news catalysts. 

While NVIDIA (NVDA 188.18, -1.99, -1.05%) still trades lower, the PHLX Semiconductor Index (+0.2%) now holds a modest gain for the day. 

Five S&P 500 sectors now hold gains, with the communication services sector (+2.3%) widening its gain past 2.0%, while the utilities (+1.0%) and health care (+0.9%) sectors also sit at session highs. 

The health care sector is supported by gains in managed care names such as Centene (CNC 38.06, +1.68, +4.63%), Elevance Health (ELV 336.33, +10.50, +3.22%), and Molina Healthcare (MOH 140.63, +3.09, +2.25%).