It’s a mixed bag today as once again Apple (AAPL), NVIDIA (NVDA), Tesla (TSLA) and Technology are weighing on the markets.  Apple has given up another 3% in today’s trading, but off its worst level, on news that China will expand its restriction of iPhones to other agencies and state-owned companies. 

The Nasdaq is down 1.0% and the S&P 500 is down 0.3%, while the Dow is trading up 0.2%.

Six of the eleven S&P 500 sectors are in the green, with the safe havens once again the top performers lead by Utilities.

Breadth remains negative and the new lows are continuing to outpace the new highs, again especially on the Nasdaq with an almost 8-1 ratio.

On the economic front, the job market remains tight, and investors continue with the thesis that the Fed may keep rates higher for longer.  The initial claims fell 13,000 to 216,000, versus the estimates for 234,000. This is the lowest read since February.  

A better gauge, the 4-week moving average declined by 8,500. Continuing claims fell by 40,000 to 1,679,000 versus expectation of 1,715,000 and the lowest read since mid-July.