Stock Market Update

[BRIEFING.COM] The major averages continue to trade in a mixed fashion, with the S&P 500 (+0.4%) and Nasdaq Composite (+1.0%) recovering more of yesterday's retreat while the DJIA (-0.3%) remains little changed from opening losses. 

Alphabet's (GOOG 230.86, +18.87, +8.90%) surge keeps the communication services sector (+3.6%) ticking higher, with the sector establishing a new all-time high level in today's trade. 

Despite nice gains in the information technology (+0.8%) and consumer discretionary (+0.8%) sectors today, the communication services sector is the only S&P 500 sector with a week-to-date gain, as the first sessions of September live up to the month's historically slow reputation. 

On the geopolitical front, Reuters reports that Russian President Vladimir Putin stated the door is open to end the war in Ukraine with peaceful negotiations, but the use of force is still on the table.