Major indices are moving off morning highs and the Nasdaq is the only index still in the green.

The Magnificent Seven are overall moving higher, contributing to the Nasdaq’s outperformance. Apple (AAPL) is leading the pack once again after it's plans to onshore production and invest in America were highlighted at a White House press conference yesterday after the close.

Six sectors are moving higher, with Utilities (XLU) in the lead. The sector is being led higher by Atmos Energy (ATO) and Vistra Corp. (VST) after they reported favorable earnings.

Meanwhile, Health Care (XLV) is once again the sickest sector of the day, being led lower by Eli Lilly & Co (LLY) and McKesson (MCK) which had adverse reactions to earnings.

Economic Data

Initial jobless claims rose by 7,000 last week to 226K and above the estimates of 221K.

Continuing jobless claims for the week ending on July 26^th rose to 1.974M from 1.936M the prior week and above the 1.95M forecasts.