Stock Market Update

[BRIEFING.COM] The major averages hover near their opening values, with the S&P 500 currently up 0.2%.

The technology sector (+1.6%) remains the only sector in positive territory, underpinning the early gains in the S&P 500 (+0.2%) and the Nasdaq Composite (+0.8%). Meanwhile, the DJIA (-0.4%) lags. 

The financials sector (-0.8%) is among the worst performers so far, with some selling activity happening today after most banks that reported earnings today passed expectations. Wells Fargo (WFC 79.08, -4.36, -5.2%) is a notable laggard, with investor attention on some disappointing net interest income guidance, while Citigroup (C 88.70, +1.20, +1.4%) is the lone standout in names that reported before the open.