Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%), DJIA (-0.6%), and Nasdaq Composite (-0.2%) trade lower shortly before midday amid some mixed action in the broader market. This morning's December CPI (0.3%; Briefing.com consensus: 0.3%) and Core CPI (0.2%; Briefing.com consensus: 0.3%) came in largely as expected, reinforcing the market's subdued tone today.

Sector strength is a nearly even split, but some pressure in some of the market's largest names in the information technology (-0.3%) and consumer discretionary (-0.4%) sectors weighs on the market. The Vanguard Mega Cap Growth ETF is down 0.4%, which is a solid improvement from earlier session lows. 

Elsewhere, the financials sector (-1.5%) continues to face pressure in its credit card and banking names following President Trump's call for a one-year 10% interest rate cap on credit cards.  JPMorgan Chase (JPM 316.01, -8.48, -2.61%) is a laggard after the company missed on GAAP EPS, although adjusted EPS came in better than expected.

Meanwhile, the energy sector (+1.9%) is a standout as the price of oil climbs $1.75 (+3.0%) to $61.25 per barrel. 

The industrials sector (+0.5%) holds a solid gain as defense names continue to rise amid geopolitical unrest in Iran and elsewhere, while the consumer staples sector (+0.6%) extends yesterday's rally. 

Outside of the S&P 500, the Russell 2000 (+0.1%) and S&P Mid Cap 400 (+0.1%) hold modest gains as they continue to outperform their larger-cap counterparts this year.