Stock Market Update

[BRIEFING.COM] The major averages have slipped below their opening levels with the Dow (-0.1%) turning negative while the S&P 500 (+0.2%) and Nasdaq (+0.3%) are holding up a bit better.

Today's session marks the end of August, which is concluding with about a week of sideways action after a strong bounce off a three-month low. The volatile month saw significant early weakness in the top-weighted technology sector, but the group is now on course to add 0.4% for the month versus a 1.5% month-to-date gain in the S&P 500.

Chipmakers have been even more volatile than the broader tech sector with the PHLX Semiconductor Index still down 2.5% for the month. The SOX Index has been an underperformer since the end of the second quarter, having given up 6.8% since the end of June versus a 1.8% quarter-to-date loss in the broader technology sector and a 2.6% gain in the S&P 500.