Intraday Update

1:48 p.m. ET The stock market is trading on a weaker note today. Downside moves at the index level have been limited by gains in some mega cap stocks, leading to relatively modest losses among the S&P and NASDAQ-100. The more cyclically biased Russell 2000 and Dow Transports continue to lag. SP-500 -0.2%, Dow -0.4%…