Stock Market Update

[BRIEFING.COM] The stock market is having another subdued session today, reinforcing a degree of caution ahead of tomorrow's release of the July Consumer Price Index (Briefing.com consensus 0.1%).

The S&P 500 (+0.1%), Nasdaq Composite (-0.2%), and DJIA (-0.1%) have spent the session in close proximity to their flatlines amid mixed strength in the broader market. The energy sector (+1.1%) is a standout as oil creeps higher, though it remains well off its overnight highs after Bloomberg reported that Pakistan's defense minister Khawaja Asif said the U.S. and Iran are close to "some sort of an arrangement."

The industrials sector (+0.6%) also holds a solid gain as its electrical product names surge alongside a higher showing from semiconductor names today. The PHLX Semiconductor Index is up 0.9%, though it has given up around half of its earlier gain. Still, strength across the group helps offset a weaker showing from Oracle (ORCL 145.24, -5.80, -3.84%) and other software names today, keeping the information technology sector (+0.1%) near its flatline.

Outside the S&P 500, the Russell 2000 (+0.4%) and S&P Mid Cap 400 (+0.4%) are outperforming the major averages amid some modest easing in Treasury yields today.