Major indices pared gains after the news came out that Google (GOOGL) will pause its hiring for the rest of the year. The market is seeing the same reaction as similar news from Apple (AAPL) from Monday.

Regardless, all major indices continue to be above its 50-day moving average, although off the highs.

Netflix (NFLX) is providing support on the growth side and making Communication Services the best performing sector.

Don’t look now, but there are serious cracks in the housing boom.  Mortgage applications dropped to a 22-year low. Existing home sales for last month swooned down 5.4%, the street was looking for a more modest decline of 1.1%.

If the Fed is looking to curb the wealth effect, it has to bust the housing boom.

Tesla (TSLA) reports after the close, the stock has rallied twice on the same day they reported in the last six quarters.