Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (-0.3%), and DJIA (+0.4%) sit mixed shortly after the open as mega-cap and tech names cede much of their modest gains from yesterday against a backdrop of solid participation in the broader market. 

The information technology sector (-0.5%) is a laggard as many of its largest components trade lower. NVIDIA (NVDA 174.28, -3.44, -1.93%) holds a notable loss, while Oracle (ORCL 181.39, -7.26, -3.85%) and Broadcom (AVGO 334.76, -6.54, -1.92%) are back under pressure after finally getting some relief yesterday from a post-earnings slide that started last week. 

Weakness in mega-cap tech seats the communication services sector (-1.1%) with the widest loss in the early going as Alphabet (GOOG 300.80, -6.93, -2.25%) adds to its week-to-date losses. 

Paramount Skydance (PSKY 13.34, -0.51, -3.70%) is one of the worst-performing S&P 500 names this morning, with shares sinking after Warner Bros. Discovery's (WBD 28.74, -0.16, -0.55%) Board of Directors recommended that shareholders reject Paramount's hostile takeover bid. 

Meanwhile, eight S&P 500 sectors trade higher. 

The energy sector (+1.0%) rebounds as the price of oil bounces off of yesterday's lows, rising $0.75 (+1.4%) to $55.88 per barrel. President Trump has ordered a blockade of sanctioned oil tankers entering and leaving Venezuela. 

Elsewhere, the financials (+0.7%), materials (+0.6%), and real estate (+0.6%) sectors are off to solid starts amid relatively strong participation in the broader market.