Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (-0.3%), and DJIA (+0.3%) trade in a relatively tight range near their baselines shortly after midday. 

Coinbase Global (COIN 183.42, -17.20, -8.57%) is one of the worst-performing S&P 500 names today as Bitcoin retreats below the $70,000 mark. 

Apollo Global Management (APO 109.17, -1.28, -1.16%) is also under pressure after CNBC reported that the company's private credit fund capped withdrawals at its stated 5% limit after investors asked to redeem more than 11%.

Still, strength in major banking names like Wells Fargo (WFC 80.04, +1.76, +2.24%) helps the financials sector (+0.5%) trade modestly higher.