Stock Market Update

[BRIEFING.COM] The major averages are mixed just after the open, with the DJIA (+0.2%) out in front while the S&P 500 (-0.3%) and Nasdaq Composite (-0.9%) give back yesterday's gains.

Seven sectors trade in the green, though a notable loss in the information technology sector (-1.2%) is stifling growth in the major averages. 

Chip stocks are facing early pressure, with NVIDIA (NVDA 165.92, -5.46, -3.2%), Broadcom (AVGO 277.09, -11.12, -3.9%), and Advanced Micro Devices (AMD 150.55, -6.45, -4.1%) facing similar losses. 

The move has the PHLX Semiconductor Index down 2.4%, which trims its quarter-to-date gains to just 1.0%.