Stock Market Update

[BRIEFING.COM] The S&P 500 (flat) hovers near unchanged levels, while the Nasdaq Composite (+0.7%) maintains a healthy gain largely due to strength in the technology sector (+1.6%). 

The materials sector (-1.6%) is the worst performer of the day, trimming its year-to-date gains to 6.2%.

Shares of Newmont Corporation (NEM 55.70, -5.12, -8.4%) are trading sharply lower following the resignation of Executive Vice President and CFO Karyn Ovelmen.

Freeport-McMoRan (FCX 43.60, -1.88, -4.1%) is also facing pressure after Morgan Stanley downgraded the stock to Equal Weight from Overweight with a target of $54.