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From Briefing.com: 4:25 pm : For the second time this week stocks rolled over in afternoon trade to suffer sizable losses.

Market participants displayed caution ahead of the open as Europe’s bourses traded lower and domestic retail sales disappointed. Retail sales declined during May by 0.2%, which is greater than the 0.1% decline that had been broadly expected. Excluding autos, retail sales declined by 0.4%, which contrasts with a Briefing.com consensus that called for no change. Prior month numbers were revised downward so that overall retail sales declined by 0.2% and sales less autos declined by 0.3%.

Producer price data proved less influential. Overall producer prices declined during May by 1.0%, which is steeper than the 0.7% decline that had been widely forecasted, but core producer prices experienced an in-line increase of 0.2%.

Although stocks were able to work through some modest selling pressure in morning trade, they struggled to extend the move. Financials eventually offered leadership, but the broad market remained reluctant to follow. The path of least resistance proved to be downward amid such broad market anemia. The major averages managed to make a modest bounce in the final minutes of trade, but broad losses were still booked.

Materials stocks and Consumer Discretionary stocks suffered the most. Both sectors sank to a 1.5% loss. The former was hurt primarily by diversified chemicals players, while the latter was undermined by weakness among retailers – SPDR S&P Retail ETF (XRT 56.46, -1.60).

Financials, which had mustered a solid gain with help from JPMorgan Chase (JPM 34.30, +0.53), finished the day with a 0.5% loss. In a testimony before the Senate Banking Committee, JPMorgan Chase CEO Jamie Dimon stated that he expects the bank to be solidly profitable in the current quarter, and that progress has already been made in reducing risk following the firm’s massive trading loss that received so much attention several weeks ago.

There weren’t any encouraging headlines regarding efforts to shore up conditions in the eurozone, but the euro staged a strong advance against the greenback. By session’s end the euro was up 0.5% to $1.257.

Treasuries attracted buying interest amid the stock market's slide, such that the yield on the benchmark 10-year Note returned to almost 1.60%. Also in play were results from an auction of 10-year Notes. The offering attracted a Bid-to-Cover of 3.06, Dollar Demand of $64.2 billion, and an Indirect Bidder rate of 42.0%. For comparison, the prior auction attracted a Bid-to-Cover of 2.90, Dollar Demand of $69.6 billion, and an Indirect Bidder participation rate of 38.7%, while an average of the last six auctions results in a Bid-to-Cover of 3.18, Dollar Demand of $69.8 billion, and an Indirect Bidder rate of 42.4%.

Advancing Sectors: Telecom +0.1%
Declining Sectors: Utilities -0.1%, Health Care -0.1%, Consumer Staples -0.3%, Financials -0.5%, Tech -0.7%, Industrials -1.0%, Energy -1.1%, Consumer Discretionary -1.5%, Materials -1.5%DJ30 -77.42 NASDAQ -24.46 NQ100 -0.7% R2K -1.3% SP400 -1.4% SP500 -9.30 NASDAQ Adv/Vol/Dec 747/1.59 bln/1727 NYSE Adv/Vol/Dec 954/683 mln/2072

3:30 pm : Crude oil came off its morning low of $82.15 per barrel to push into positive territory, extending its climb to a session high of $84.02 per barrel shortly after weekly inventory data showed that gasoline inventories had a draw of 1.72 million barrels when a build of 1.40 million barrels had been anticipated. Weekly crude oil inventories experienced a smaller-than-expected draw of 191,000 barrels. The energy component failed to sustain its gain and fell back into the red, settling with a 0.9% loss at $82.56 per barrel.

Natural gas chopped around in negative territory for its entire floor session. It set a session high of $2.23 per MMBtu, but fell lower as it headed into the close. It settled at its session low of $2.18 ber MMBtu with a 2.7% loss.

Gold popped into positive territory ahead of pit trade open. It traded up to a session high of $1626.00 per ounce, but fell back to the unchanged mark. Despite the dip, the yellow metal was able to reclaim gains in afternoon action and settle the pit session 0.4% higher at $1619.90 per ounce. Silver rallied to a session high of $29.09 per ounce in early morning action, but later fell into negative territory to a session low of $28.77 per ounce. It spent the afternoon session attempting to rebound, ultimately settling at $28.93 per ounce, just a penny below the break-even line

12:44PM Semiconductor Hldrs back hovering slightly under session high of 31.80 (SMH) 31.76 +0.11 : The high from last week and early this week are just above at 31.85/31.89. Note that its 200 sma comes into play at 32.05 -- INTC +1%, ASML +2.6%, AMAT +0.7%, ARMH +1.6%, SNDK +0.9%, KLAC +1.2%.

Ciena (CIEN) announced that Sprint (S) is upgrading its optical backbone network with Ciena's 6500 Packet-Optical Platform.

O2Micro International (OIIM) was issued 23 claims under U.S. patent for its Power Converter Current Control invention.

Through a strategic technology partnership with ARM (ARMH), AMD (AMD) will integrate the established ARM TrustZone technology into future Accelerated Processing Units via a system-on-a-chip design methodology.

AMD (AMD) announced immediate availability of the AMD FirePro W600 professional graphics card, the co's first professional graphics card to leverage AMD's Graphics Core Next architecture and 28nm production technology, for use in high-resolution, content-rich, multi-screen display wall environments.

Dell (DELL $12.57 +0.60) announced that its Board of Directors has adopted a dividend policy under which the company intends to pay quarterly cash dividends on its common stock beginning in the third quarter of the current fiscal year. Dell expects the initial dividend rate to be $0.32 per share per year, or $0.08 per share quarterly. "Our efforts to streamline our operations and shift the mix of our business over the past several years have resulted in sustainably strong cash flow from operations, enabling us to increase the percentage of capital we've allocated to research and development, capital expenditures and acquisitions while maintaining an ongoing share repurchase program, the payment of a quarterly cash dividend to Dell's shareholders adds another element to our disciplined capital allocation strategy." The company expects that through the dividend and share repurchases, it will increase its target range for distribution of capital to shareholders from 10-30 percent of free cash flow to 20-35 percent. Gladden said that Dell is confident in its continuing ability to make the necessary investments to grow its portfolio of enterprise solutions and services while initiating the quarterly dividend and continuing share repurchases. Co projects its enterprise solutions, software and services business will grow at a 10 percent compounded annual growth rate through fiscal year 2016 and represent an increasing percentage of Dell's operating income margin. Gladden said that while Dell has become a solutions and services company, it remains committed to a profitable end-user computing business. "By exercising discipline and being selective on the business we pursue, we expect to continue to run a profitable end-user business, we've gained share in the high-value portion of the industry for six of the last seven quarters and see this part of our business continuing to contribute operating income in excess of 5% of revenue."