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The equity markets again spent most of the morning session in the red, as the People's Bank of China held a press conference in the overnight session to attempt to calm investors of the uncertainty in the yuan adjustments. Officials noted that the currency modification was 'almost complete' as Asian markets rebounded in reaction to the quelling of the rumors that of a 10.0% devaluation was afoot.

US indices spent most of the morning session below flat lines, as pressure among commodities - particularly oil - held us below yesterday's closing values. However, all three major indices rebounded and by midday were enjoying healthy gains. Tech mirrored the broader market movements today as the SPDR Technology ETF (XLK 42.21, -0.12 -0.28%) spent the morning session in the red and rebounded midday. At the end of the session, we were split, as the Dow Jones (17408.25, +5.74, +0.03%) closed higher, the Nasdaq Composite ended today's session below flat lines (5033.56, -10.83 -0.21%) and the S&P 500 also ended lower on the session (2083.39, -2.66 -0.13%).

For its part, the S&P 500 Information Technology sector's (704.96, -1.70 -0.24%) trading session shaped up much like that of the broader market. Shares of Yahoo! (YHOO 35.94, +1.45 +4.20%) enjoyed a modest rebound today on the back of yesterday's losses, while notable laggards in the sector included ***.

Sector component Cisco (CSCO 28.70, +0.80 +2.87%) reported earnings last night, while Applied Materials (AMAT 17.06, -0.24 -1.39%) is set to report tonight.

Other notable news items among sector components:

  • Western Digital (WDC 81.57, -1.59 -1.91%) announced the retirement of Chairman Tom Pardun, with former Chairman Matthew Massengill appointed as his...