Stock Market Update

[BRIEFING.COM] The S&P 500 (-1.3%) is clawing back some of its early weakness, though ten sectors continue trading lower while the consumer staples sector (+0.1%) has turned positive.

The countercyclical nature of the group is benefitting from the overall weakness while another countercyclical group—health care (-0.2%)—also trades well ahead of the broader market. However, the outperformance in health care comes after a poor showing in April that has the sector down 4.9% since the end of March versus a 2.3% month-to-date loss in the S&P 500. The consumer staples sector, meanwhile, is up 0.3% for the month.

Elsewhere, the consumer discretionary sector (-3.0%) remains at the bottom of today's leaderboard while top-weighted technology (-1.5%) trades just behind the broader market.