Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (+0.1%), and DJIA (+0.1%) face some choppy action this morning, initially trading lwoer in respones to this morning's economic data before rising after the Supreme Court ruled against President Trump's IEEPA tariffs. 

The ruling was particularly impactful to the consumer discretionary sector (+0.9%) which shot up from its flatline immediately in response. 

Meanwhile, the communication services sector (+1.2%) is another top mover.  Alphabet (GOOG 308.97, +5.41, +1.78%) provides solid mega-cap leadership, while Live Nation (LYV 165.00, +7.54, +4.79%) trades higher after earnings. 

The preliminary February S&P Global U.S. Services PMI checked in at 52.3, down from a prior reading of 52.7. 

The preliminary February S&P Global U.S. Manufacturing PMI registered at 51.2, from a prior level of 52.4.

December new home sales decreased 1.7% to a seasonally adjusted rate of 745K units (Briefing.com consensus 714K). 

The final University of Michigan Consumer Sentiment reading for February decreased to 56.6 (Briefing.com consensus: 57.3) from the preliminary reading of 57.3.