Stock Market Update

[BRIEFING.COM] The stock market is off to a subdued start to the week as momentum fades in semiconductors and mega-cap names that drove last week's record highs. The S&P 500 (-0.2%), Nasdaq Composite (-0.4%), and DJIA (-0.3%) are modestly lower, though select pockets of strength are helping limit declines.

The PHLX Semiconductor Index is down 2.0% after last week's strong run, weighing on the information technology sector (-0.6%). Within the group, memory names like Micron (MU 519.51, +22.79, +4.6%) are outperforming, while Intel (INTC 83.36, +0.82, +1.0%) continues to edge higher post-earnings.

Tesla (TSLA 364.28, -12.02, -3.2%) remains a notable laggard following last week's earnings report, keeping the consumer discretionary sector (-1.2%) under pressure. In contrast, Alphabet (GOOG 348.59, +6.27, +1.8%) is pushing to fresh record highs, lifting communication services (+1.3%) to the top of the sector leaderboard.

Overall, the Vanguard Mega Cap Growth ETF is down 0.5%.

Elsewhere, sector moves are mixed, with gains and losses limited to 0.7% or narrower.

Outside of the S&P 500, the Russell 2000 (+0.1%) and S&P Mid Cap 400 (-0.1%) are little changed.