YAHOO [BRIEFING.COM]: The stock market drifted from a modest gain in the early going to a loss of more than 1%, but market participants gradually bid stocks higher in the second half of the session. In the end, the three major indices settled with slight gains.

Sellers showed strength for the first part of the session. Their efforts had taken more than 80% of the names in the S&P 500 into negative territory. Cyclical stocks seemed to be their primary target as materials, industrials, and financials all fell to a loss of more than 1%. Energy stocks saw some of the worst price action as they dropped more than 2% -- the energy sector's slide was exacerbated by continued weakness in oil prices, which fell to a three-month low and closed pit trade with a 2.1% loss at $70.08 per barrel.

However, buyers started to step back in and helped energy stocks cut their losses. The sector still finished with a 1.0% loss, but that was less than half the loss that the sector had seen at its session low.

Meanwhile, materials stocks settled with just a 0.2% loss. Industrials closed 0.3% lower and financials finished flat. Financials were helped by strength among consumer finance plays, a few of which reported improvements in their monthly delinquency metrics. A few big banks also saw some improvement in their monthly credit card metrics.

Shares of home improvement retailers had been down almost 4%. They were hurt by broader market weakness and what was deemed a lackluster latest quarterly report Lowe's (LOW 25.08, -0.99). The company posted better-than-expected quarterly earnings, but its guidance was uninspiring. However, shares home improvement retailers were able to finish with a modest 0.4% loss.

While support for cyclical plays eventually surfaced, buyers still favored defensive-oriented telecom (+1.2%) and consumer staples (+0.9%).

Commodities came under sharp pressure this session. In turn, the CRB Commodity Index fell 2.1% to a new seven-month low.

Oil prices were particularly weak. The energy component set a fresh three-month low of $69.27 per barrel before it closed pit trade with a 2.1% loss at $70.08 per barrel.

Natural gas prices garnered support, though. Contracts for the commodity closed pit trade priced at $4.34 per MMBtu, up 0.5%.

As for precious metals, silver prices slumped to a 1.7% loss at $18.91 per ounce. Gold had a lackluster finish to pit trade, though it moved in a $15-trading range this session; the yellow metal settled flat at $1227.30 per ounce.

The afternoon recovery came as the greenback gave up nearly all of its gain for the session. It had set a fresh 52-week high in overnight trade, but it finished with only a fractional gain. Its pullback was partly owed to the euro's rally from a multiyear low of 1.2235 per dollar to a 0.3% gain against the dollar at 1.2397 per dollar.

Advancing Sectors: Telecom (+1.2%), Consumer Staples (+0.9%), Consumer Discretionary (+0.6%), Tech (+0.2%), Utilities (+0.1%), Health Care (+0.1%)
Declining Sectors: Energy (-1.0%), Industrials (-0.3%), Materials (-0.2%)
Unchanged: Financials DJ30 +5.67 NASDAQ +7.38 NQ100 +0.4% R2K +0.3% SP400 +0.2% SP500 +1.26 NASDAQ Adv/Vol/Dec 1303/2.40 bln/1403 NYSE Adv/Vol/Dec 1254/1.44 bln/1820