Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.6%), and DJIA (+0.1%) are mostly lower this morning, with considerable weakness across mega-cap and tech names weighing on the major averages while the broader market tilts mostly higher. 

The communication services sector (-1.4%) is an early laggard as Meta Platforms (META 577.78, -17.10, -2.88%) and Alphabet (GOOG 285.42, -4.17, -1.44%) both trade lower after a jury found the companies liable in a landmark social media addiction case yesterday. 

NVIDIA (NVDA 175.65, -3.03, -1.70%) is another mega-cap laggard, weighing on both the PHLX Semiconductor Index (-2.1%) and the broader information technology sector (-0.8%). The Vanguard Mega Cap Growth ETF is down 0.7% this morning. 

While strength is relatively broad as eight S&P 500 sectors trade higher, the gains are largely modest in nature, with the real estate sector (+0.5%) leading the advance with its modest gain. 

There is certainly a geopolitical component to the weakness across growth stocks today as the market shows a "risk-off" disposition as optimism around a potential ceasefire between the U.S. and Iran has faded. 

Crude oil is currently up $3.04 (+3.4%) to $93.96 per barrel.