[BRIEFING.COM] The stock market has been unable to reverse the session's pessimistic tone as all ten of the major economic sectors are trading with losses. More than two-thirds of the S&P 500 components are trading downward.

Though it remains in the red, the Nasdaq is a relative leader among the three major indices. Leaders in the Nasdaq include Priceline.com (PCLN 142.99, +19.21) and Activision (ATVI 29.94, +2.24). Both Priceline.com and Activision recently reported earnings results that surpassed analysts' estimates for the most recent quarter.

Energy (-1.3%) and materials (-2.0%) are currently the two worst performing sectors this session. Energy is trading lower despite record oil prices; crude eclipsed $126 per barrel earlier this session. Materials lag even though the dollar index, down 0.4%, suggests weakness in the greenback. Notably, materials gained more than 2.0% yesterday.

Financials (-0.6%) have been trading in volatile manner. The sector opened sharply lower after Dow component American International Group (AIG 40.65, -3.50) reported this morning $9 billion in pretax charges, which contributed to a quarterly loss of roughly $8 billion. AIG is planning to raise more than $12 billion through a common stock and equity linked offering.

Despite the session's broad-based pessimism, Treasuries are attracting relatively little attention. The benchmark 10-year Treasury Note is up just 8 ticks, moving its yield to 3.74%.

Separately, the March trade deficit totaled $58.2 billion, which is less than the $61.0 billion deficit economists forecast. The deficit for February was revised to $61.7 billion, down from a previously announced $62.3 billion deficit. The narrowing of the trade deficit during March came as little surprise since a weak dollar makes exports more attractive and imports pricier.

[BRIEFING.COM] The stock market has descended after making a climb from previous levels.

Financials (-0.1%) made a brief rally into positive ground, but succumbed to selling pressure.  All ten of the major economic sectors are back to trading with losses.

Though off its high, oil continues to trade higher in intraday activity.  Crude is currently selling for roughly $125 per barrel, up 1.0% this session.

[BRIEFING.COM] The stock market is turning upward, though off its best level of the session.  The S&P 500 and Dow Jones continue trading in the red, but the Nasdaq is now trading near positive ground.

Leaders in the Nasdaq include Research in Motion (RIMM 134.30, +3.12), Priceline.com (PCLN 143.45, +19.67), and Activision (ATVI 29.77, +2.07).  Both Priceline.com and Activision reported earnings results that surpassed analysts' estimates for the most recent quarter.

Larger tech names are providing less support.  Apple (AAPL 183.42, -1.64) and Google (GOOG 576.24, -6.77) are both trading with losses.

[BRIEFING.COM] All ten of the major economic sectors are showing losses as the stock market continues to slog through morning trade.

Despite the pessimism exhibited in the stock market, Treasuries are attracting little attention.  The benchmark 10-year Treasury Note is up just 3 ticks, moving its yield to 3.76%.  One year ago the 10-year Treasury Note yield was roughly 90 basis points higher.

[BRIEFING.COM] The stock market remains well into negative territory with little support.  More than 85% of the S&P 500 components are trading lower.

Energy (-1.2%) and materials (-1.7%) are currently the two worst performing sectors this session. 

Energy's downturn comes despite record oil prices.  Crude prices are pushing higher again, already moving past $126 per barrel earlier this session.  Materials lag even though the dollar is showing some signs of weakness.  The dollar index is down 0.4%.

[BRIEFING.COM] Extending yesterday's gains into Friday's session has proven too challenging.  Weighing on early market sentiment is a disappointing quarterly earnings announcement from Dow component American International Group (AIG 41.87, -2.28).  The financial giant reported this morning $9 billion in pretax charges, which contributed to a quarterly loss of roughly $8 billion. 

On a related note, Standard & Poor's reduced AIG's credit rating to AA- from AA.  To help bolster its financial position AIG is planning to raise more than $12 billion through a common stock and equity linked offering.

[BRIEFING.COM] Trading in the stock market was largely range-bound Thursday. The S&P 500 bounced between the unchanged mark and 1400, which has been a key level among technical traders, but still finished the session with decent gains.

Positive sales data from a handful of key retailers lent some initial support to market participants, but the data was largely dismissed after the opening bell.

Wal-Mart (WMT 57.16, +0.33), Costco (COST 71.20, -0.88), BJ's Wholesale (BJ 37.73, -1.21), and Target (TGT 52.34, -1.10) all reported positive same-store sales growth for April. Specifically, Wal-Mart reported a 3.2% increase, excluding fuel sales, Costco and BJ's announced an 8.0% and 17.8% increase, respectively. Target noted that its 3.1% increase was slightly below its expectations.

Several noteworthy apparel and accessories retailers posted declining same-store sales for April.  Nordstrom (JWN 34.67, -0.82), Limited Brands (LTD 17.93, +0.31), and Gap (GPS 17.84, -0.40) all reported a downturn.

News Corp (NWS.A 19.68, +0.48) offered a positive update upon announcing third quarter results after yesterday's close. The media giant reported earnings of $0.91 per share for the quarter, up from $0.29 per share the year before. News Corp's latest results were helped by a $1.7 billion gain related to a stock and asset exchange with Liberty Media.

Jobless claims for the week ending May 3 totaled 365,000. The consensus estimate called for 370,000 claims. Jobless claims for the prior week were revised slightly higher to 383,000 from 380,000. Notably, the four-week average has increased to 367,000 from 364,500, but remains below levels typically associated with a recession.

Wholesale inventories for March declined 0.1%, which is less than the 0.5% increase that economists forecast. February's inventories increased 0.9%, down from the 1.1% increase initially reported.

The materials sector (+2.3%) was the best performing economic sector in the S&P 500. Particular strength was exhibited by Alcoa (AA 39.65, +1.56) and Freeport-McMoRan (FCX 118.07, +3.71). 

The energy sector (+1.9%) also finished with a solid gain after crude set an all-time intraday high of $124.61 per barrel. Oil companies Exxon Mobil (XOM 89.93, +1.11) and Chevron (CVX 97.44, +2.16) were among the leaders.

Financial companies were down noticeably. Bank of America (BAC 37.33, -0.67) and AIG (AIG 44.15, -0.93) were the primary laggards.

Thursday's choppy trading prompted buying in government Treasuries. The benchmark 10-year Treasury Note traded 27 ticks higher, lowering its yield to 3.78%.