Stock Market Update

[BRIEFING.COM] The major averages remain mixed at midday. 

The consumer discretionary sector (-0.9%) has sunk to its worst levels of the session. 

Tesla (TSLA 404.70, -17.26, -4.09%) is a "magnificent seven" laggard amid a weak day for the group, while Amazon (AMZN 234.37, -4.25, -1.78%) also trades lower ahead of its earnings release tomorrow morning.

Meanwhile, MGM Resorts (MGM 38.29, +4.12, +12.06%) is the best-performing stock in the sector after providing a robust FY 2025 business update, bringing other casino names such as Wynn Resorts (WYNN 114.54, +5.28, +4.83%) higher. 

On the earnings front, Chipotle Mexican Grill (CMG 39.09, -0.08, -0.20%) is flattish following its Q4 earnings report, as investors weigh mixed fundamentals against already-muted expectations. The burrito chain continues to face demand headwinds, as a modest EPS beat and in-line revenue were overshadowed by a return to negative comparable sales and a disappointing initial comp outlook for FY26.