Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.7%) and Nasdaq Composite (-1.2%) opened to losses, while the DJIA (-0.2%) continues to fare better than its counterparts. 

Similar to yesterday's session, poor performance in mega-cap names weighs down the information technology (-1.6%), communication services (-1.2%), and consumer discretionary (-0.8%) sectors, while the industrials sector (-0.2%) holds a more modest loss. 

Elsewhere in the technology sector, Intel (INTC 23.76, -1.54, -6.10%) gives back the bulk of yesterday's gain that followed reports of Softbank investing $2 billion into the company. 

Meanwhile, the consumer staples sector (+1.3%) sports the largest gain, with all of its components trading higher except for Target (TGT 96.57, -8.79, -8.34%) and Estee Lauder (EL 86.42, -3.46, -3.84%), which trade lower in response to earnings.