Stock Market Update

[BRIEFING.COM] The stock market started the day with losses in the major averages, paced by the Nasdaq (-0.5%) while the S&P 500 (-0.3%) holds a slimmer loss.

Ten out of eleven sectors are among the early decliners with health care (-1.1%) showing the widest loss, followed by communication services (-0.7%), consumer staples (-0.5%), and technology (-0.3%). Despite the early weakness in technology, chipmakers have shown some early strength, keeping the PHLX Semiconductor Index (+0.3%) just above its unchanged level.

On the upside, the energy sector (+1.5%) is the lone advancer, benefiting from an increase in the price of oil, which is up $1.75, or 2.5%, at $72.00/bbl.

Treasuries have dipped from their early highs, though the 10-yr yield remains down two basis points at 4.43%.