Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%) trades at new session lows, while the Nasdaq Composite (-0.5%) and DJIA (+0.6%) hold on to their respective gains and losses.

Reddit (RDDT 262.95, -3.71, -1.39%) is engaged in preliminary discussion with Alphabet's (GOOG 248.52, -2.90, -1.15%) Google on a new AI-focused content deal, with a dynamic pricing deal in play.

The communication services sector (-0.3%) is down today, as Alphabet and Meta Platforms (META 775.53, -3.47, -0.45%) contribute to today's trend of mega-cap weakness. 

Elsewhere in the sector, Warner Bros. Discovery (WBD 18.10, -0.16, -0.85%) faces pressure for the second consecutive day as investors assess the feasibility of Paramount Skydance's (PSKY 17.82, +0.29, +1.63%) proposed majority cash acquisition.