It's been an interesting session, thus far. There is pressure across the board except growth where Technology (XLK) is getting a bid, despite the disastrous report from Intel (INTC) after the close yesterday.

Seven sectors are in the green. Energy (XLE) is leading the way, as oil prices get a boost from renewed Iran concerns. Financials (XLF) is the laggard, with Capital One Financial Corp. (COF) leading the sector lower, after reporting weaker-than-expected Q4 earnings, after the bell yesterday. 

The Mag Seven are acting well on the news that China will allow Nvidia (NVDA) H200 chips to be purchased (It was always going to happen).

Economic Data

Composite PMI edged higher to 52.8 in January from 52.7 in December. This came as Manufacturing PMI rose to 51.9 from 51.8 and was just below estimates of 52, while Services PMI remained unchanged at 52.5, below expectations of 52.8.

Consumer sentiment came in better than expected, with all subcategories becoming more optimistic.

Find shelter this weekend.