Stock Market Update

[BRIEFING.COM] The stock market trades in a mixed fashion as the DJIA (+0.4%) pushes further into record territory, while weakness in mega-cap tech names seats the S&P 500 (-0.1%) and Nasdaq Composite (-0.2%) beneath their baselines. 

A slight early gain in the S&P 500 resulted in a new intraday high, with the index coming within 0.5 points of the 6,700 mark.

Sector strength has been an almost even split, with six S&P 500 sectors holding gains, one sector trading flat, and four holding losses. 

Gains today are relatively modest, as only the energy sector (+2.4%) holds a gain wider than 0.5%. The sector benefits from a $1.57 increase in the price of oil to $63.85 per barrel, an increase of 2.5%. 

Weakness in the information technology (-0.4%) and consumer discretionary (-0.6%) sectors is preventing gains at the index level as mega-cap tech names give back some of yesterday's advance. 

As a result, the S&P 500 Equal Weighted Index (+0.5%) outperforms the market-weighted S&P 500 (-0.1%), and the Vanguard Mega Cap Growth ETF is down 0.5%.

Meanwhile, smaller-cap indices are on the advance as the Russell 2000 gains 0.9% and the S&P Mid Cap 400 adds 0.7%.