The ISM Services PMI for August rose to 51.5 from 51.4 in the prior month, showing some strength in the sector. New orders continued to rebound while production levels rose at a slower pace. Notably, the price gauge edged higher to 57.3 versus 57 last month while the employment component saw expansion at 50.2.

The Fear & Greed Index is down slightly from yesterday, and still hovering over neutral.

Ten sectors are holding midday losses with Industrials (XLI) and Health Care (XLV) at the bottom of the leaderboard.

The S&P 500 broke below its 50-day moving average and is increasingly more sensitive to non-farm payrolls which are released tomorrow, before the market open.