Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.8%), and DJIA (-0.9%) sit mostly higher amid relatively solid participation in the broader market. 

Seven S&P 500 sectors trade higher, though the gains are largely modest. 

The top-weighted information technology sector (+1.3%) is once again at the top of the standings as Apple (AAPL 261.03, +5.62, +2.20%) and Microsoft (MSFT 476.29, +6.01, +1.28%) continue to trade higher ahead of their earnings reports this week. Additionally, chipmakers are rebounding from some modest weakness yesterday, with the PHLX Semiconductor Index up 2.0% in the early going. 

Gains are relatively modest elsewhere and limited to 0.8% (utilities) or narrower. 

Meanwhile, the health care sector (-1.2%) faces a considerable loss after the Trump administration proposed just a 0.09% net average year-over-year payment increase for Medicare Advantage and Part D policies versus an expected 4-6% increase. Shares of UnitedHealth (UNH 284.00, -67.64, -19.24%) have plummeted, with the company's modest earnings beat and soft guidance adding to the pressure and keeping the DJIA firmly lower. 

Just released, the Conference Board's Consumer Confidence Index dropped to 84.5 in January (Briefing.com consensus 90.0) from an upwardly revised 94.2 (from 89.1) in December.