Major indices are moving off sessions lows and holding modest gains ahead of tomorrow’s July CPI. The only index still in the red is the Dow Jones Industrial Average due to weak leadership from transport stocks.

The magnificent Seven is mostly moving higher, with Tesla (TSLA) leading the pack higher after news the company submitted a formal license request to become an electricity provider in the U.K.

Six sectors are moving higher, with Consumer Discretionary (XLY) leading the way and getting a boost from Tesla (TSLA). Energy (XLE) is the laggard.

Marijuana stocks are getting a boost after Trump indicated he is looking at reclassifying marijuana at the federal level. The decision will come in the next week or two.

This earnings season, the ratio of above vs. below consensus capital expenditures guidance softened to 1.2x, below the average of 1.4x, but it is still indicating that more companies are guiding higher rather than lower capital expenditures.

In other news, Trump will deploy the national guard in Washington DC and put the city’s police department under federal control to attempt to lower crime.