Stock Market Update

[BRIEFING.COM] The standing of the major indices seemingly suggests that there isn't much going right in the market today. That disposition, however, is misleading.

The weight of losses in the information technology (-2.3%), communication services (-2.1%), and consumer discretionary (-1.3%) sectors is largely responsible for the weakness at the index level. That can't be ignored; after all, the weight of their gains was instrumental in the run to record highs.

Alas, while they are struggling today (and this week), the consumer staples (+1.4%), energy (+1.0%), materials (+0.7%), real estate (+0.6%), and utilities (+0.1%) sectors are all plugging away today.

For some added context, the information technology sector is down 6.1% this week, but the consumer staples sector is up 1.0%.