Stock Market Update

[BRIEFING.COM] The major averages have stabilized after sliding from their early record high levels. 

Sector strength is almost evenly split, with six S&P 500 sectors trading in positive territory.

Breadth figures slightly favor decliners by a 7-to-6 ratio on the NYSE and an 11-to-8 ratio on the Nasdaq. 

With Microsoft's (MSFT 536.25, +23.01, +4.5%) and Meta Platforms' (META 779.02, +83.82, +12.1%) earnings reports at the forefront of today's driving factors, mega-cap stocks are unsurprisingly outperforming the market. The Vanguard Mega Cap Growth ETF posts a gain of 1.0%.

Mega-cap earnings will likely continue to be a factor through the end of the week, with Amazon (AMZN 234.22, +4.03, +1.8%) and Apple (AAPL 208.73, -0.32, -0.2%) set to report earnings after today's close.