Stock Market Update

[BRIEFING.COM] There is a slight rebound from session lows across the major averages, with the S&P 500 (-1.2%), Nasdaq Composite (-1.6%), and DJIA (-1.0%) ticking ever so modestly higher.

The utilities sector (+0.1%) is now treading above its flatline, along with the health care (+0.3%) and utilities (+0.9%) sectors.

Meanwhile, the eight other sectors are still decidedly negative. The information technology sector (-1.5%) is among the worst performers despite an EPS and revenue beat from Apple (AAPL 203.66, -3.91, -1.9%). The company incurred approximately $800 million of tariff-related costs, below the $900 billion prior guidance, and expects SepQ to add about $1.1 billion in costs.

Microsoft (MSFT 523.50, -10.00, -1.9%) trades lower today after reaching a new record high level yesterday in response to its own earnings report.