Stock Market Update

[BRIEFING.COM] The stock market has seen a choppy start to the week, with the S&P 500 (-0.4%), Nasdaq Composite (-0.7%), and DJIA (-0.2%) lower across the board just before midday.

Geopolitical headlines have driven volatility in oil prices this morning. Crude initially moved lower following unconfirmed reports of a new peace proposal between the U.S. and Iran, though CNBC later reported that the two sides still remain far apart in negotiations despite exchanging commentary through Pakistan. Crude oil is currently up $1.82 (+1.8%) at $102.84 per barrel.

The broader market is holding up relatively well despite mounting weakness across tech stocks. The PHLX Semiconductor Index (-2.6%) is extending Friday's decline, weighing on the information technology sector (-1.5%). Electrical equipment names tied to the AI buildout cycle are also lower, pressuring the industrials sector (-0.7%).

Meanwhile, seven S&P 500 sectors trade at or above their flatlines, with the communication services (+1.2%), financials (+0.7%), and consumer staples (+0.7%) sectors showing relative strength amid some rotational buying. The S&P 500 Equal Weighted Index (+0.6%) is outperforming the market-weighted S&P 500 (-0.2%) as a result.

Outside of the S&P 500, the Russell 2000 (-0.3%) and S&P Mid Cap 400 (flat) are mixed.