Stock Market Update

[BRIEFING.COM] It remains a day of attrition for the stock market, which is not seeing much buyer conviction at the index level.

Palo Alto Networks (PANW 372.82, +29.46, +8.6%) is an individual standout -- and the best-performing S&P 500 stock -- after reporting better than expected fiscal Q4 earnings and issuing better than expected fiscal Q1 guidance, PANW also increased its share buyback authorization by $500 million.

Notwithstanding the outsized gain in PANW, the S&P 500 information technology sector (-0.4%) is in red figures, feeling the pinch of weakness in NVIDIA (NVDA 127.44, -2.56, -2.0%) and other semiconductor stocks. The Philadelphia Semiconductor Index is down 1.6%.

NVIDIA is scheduled to report its quarterly results after the close on Wednesday, August 28.