There is a lot of backing and filling today as the market digests the latest comments from Fed speakers. There is nothing new in their speeches with Fed Waller and Fed Bostic, both voting members, urging patience on timing of initial rate cut.

*FED'S WALLER: NEED 'SEVERAL MORE' MONTHS OF GOOD INFLATION BEFORE CUT

*WALLER: INFLATION 'NOT ACCELERATING,' RATE HIKE ISN'T NECESSARY

*BOSTIC FED: WOULD NOT EXPECT AN INTEREST CUT BEFORE THE FOURTH QUARTER

Only 4 sectors are holding gains this afternoon with Utilities showing the widest gain. 

Market breadth is bearish this afternoon with more decliners than advancers.