Investors lean defensively
The major averages continue to trade within 0.3% of their flat lines in a defensive-minded session. The defensiveness is best reflected in the gains from the real estate (+1.4%), utilities (+0.4%), consumer staples (+0.3%), and health care (+0.1%) sectors. The information technology sector (unch), which some have started to characterize as defensive, is trading flat. Within the tech sector, shares of NVIDIA (NVDA 261.31, +10.40) are up 3.0% after the company beat top and bottom-line estimates and issued upside Q2 revenue guidance.