Stock Market Update

[BRIEFING.COM] The major averages have dipped from their early highs with the Nasdaq (-0.3%) turning negative while the S&P 500 (+0.1%) remains in positive territory.

Most sectors continue trading higher, but top-weighted technology (-0.6%) has seen some pressure since the start, which in turn has weighed on the broader market. Chipmakers are among the early laggards in the tech sector, but even with this week's volatility, the PHLX Semiconductor Index (-0.7%) is still up 0.1% for the week.

Besides technology, communication services (-0.1%) and consumer staples (-0.3%) also trade lower with Costco (COST 918.54, -24.77, -2.63%) contributing to the weakness in the consumer staples sector even though the retailer beat Q4 EPS expectations.