Stock Market Update

[BRIEFING.COM] The major indices moved mostly sideways over the last half hour. The market-cap weighted S&P 500 is down 0.1%, but the equal-weighted S&P 500 trades up 0.1% after climbing off its early low.

Seven S&P 500 sectors trade higher now led by financials (+0.6%), consumer staples (+0.4%), energy (+0.4%), and real estate (+0.3%). The communication services (-1.6%), consumer discretionary (-0.6%), and information technology (-0.5%) sectors show the largest declines, clipped by losses in heavily-weighted components and semiconductor-related shares.

Separately, the weekly EIA Crude Oil Inventories showed a build of 1.36 million barrels versus a draw of 3.73 million barrels last week.