Major indices are moving lower as investors digest the latest pack of earnings, layoff announcements, and the SCOTUS tariff hearings.

Mega cap names are mostly moving lower and seeing some profit taking, except for Apple (AAPL) and Alphabet (GOOG/L).

The only two sectors are holding in the green are Energy (XLE) and Utilities (XLU). Energy is getting a boost from favorable earnings reactions that include Texas Pacific Land (TPL) and APA (APA).

On the other hand, the growth sectors of Consumer Discretionary (XLY) and Technology (XLK) are lagging. Consumer Discretionary is being led lower by adverse reactions to earnings from DoorDash (DASH) and Tapestry (TPR). Technology is being driven lower by poor earnings reactions of PTC (PTC) and Fortinet (FTNT), as well as broader profit taking.

The Ten-Year Treasury Yield (TNX) is down 7.6 basis points to 4.08%.

The move in bonds comes as December’s rate cut probabilities begin to rebound on layoff announcements.