It is a choppy session today driven by monthly options' expirations today and poor earnings’ results.

This morning, Chicago Fed President Goolsbee (voting FOMC member) said that inflation data has been mixed, and the Fed shouldn’t overreact to one month of data.

Only six sectors are in green territory led by Health Care (XLV) who is benefiting from strong leadership from UnitedHealth (UNH).

Applied Materials (AMAT) is adding pressure to the Technology sector and its semiconductor peers after reporting Q3 results that saw its guidance for Q4 below analysts’ expectations, reflecting weakness in its China business.

In preliminary data, University of Michigan Consumer Sentiment data fell short of consensus, declining from 61.7 in July to 58.6 this month.

• 1-year inflation expectation 4.9%, consensus 4.5%
• 5-year inflation expectation 3.9%, consensus 3.4%