Stock Market Update

[BRIEFING.COM] The major averages continue to chart new session lows as the market faces a broad-based retreat today. 

Defensive sectors are among the only pockets of strength today, with the consumer staples sector (+0.5%) the only S&P 500 sector with a gain wider than 0.2%. 

The sector benefits from strong leadership in its second-largest component, Costco (COST 942.23, +27.43, +3.00%), which reported adjusted comparable sales growth of 6.0% for the month of September.

PepsiCo (PEP 142.22, +3.38, +2.43%) also trades higher after reporting an earnings beat this morning, with rival Coca-Cola (KO 66.75, +0.63, +0.95%) also holding a nice gain today.