The S&P is recovering from its morning loss and trading a little unchanged with six sectors showing midday gains, led by Materials.

Notably, the Energy ETF XLE is moving out of a range bound consolidation and broke above February’s highs.

On the economic front, the Consumer Sentiment reading hit its highest level since 2021, at 79.6, and slightly below consensus of 80. At the same time, Consumer Expectations for inflation for next year and the next 5-10 years edged higher to 3%.

Market breadth is showing nice resilience to the early selling efforts.

The market is closed on Monday in observance of President's Day.  Have a great weekend. 

There will be no reports on Monday.