The major averages are mixed at midday as they have been since the open. The Dow has been able to cling to small gains, while the Nasdaq has struggled and diverged from the other indices with losses of over 1.5%. The “FANG” stocks – Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOG) – which have led the tech-heavy index higher are all under pressure today, possibly pointing to rotation occurring under the apparent calm on the S&P’s surface. ECONOMIC EVENTS: In the U.S., the Commerce Department raised its estimate of gross domestic product expansion in the third quarter, increasing its growth estimate to a 3.3% annual rate from a previous estimate of a 3.0% pace in the July-September period. The new estimate represents a pickup from the second quarter’s 3.1% rate and the fastest pace of GDP growth since the third quarter of 2014, Reuters noted. An index of pending home sales bounced 3.5% to 109.3 in October, which was better than expected. In cryptocurrency news, bitcoin rocketed past $11,000 a matter of hours after hitting the $10,000 per coin milestone. Near noon, it had pulled back to a bit below $11,000, according to CoinDesk. COMPANY NEWS: Amazon (AMZN) confirmed in a press release that Cyber Monday was the single biggest shopping day worldwide in the company’s history, surpassing Prime Day 2017. The e-commerce giant also announced a number of partnerships for its cloud services unit AWS, including with big names such as Disney (DIS) and the National Football League. However, shares of the “FANG” component slid nearly 4% amid the broader weakness in tech stocks… Shares of Chipotle Mexican Grill (CMG) jumped 3% in morning trading after the company announced it had begun to search for a new chief executive officer. Once the search is compete, Chipotle founder Steve Ells said he will focus primarily on innovation. While several Wall Street analysts said this could be a longer-term positive for the embattled burrito chain, they also stressed the timing of the announcement could be a worrying signal about recent sales trends. MAJOR MOVERS: While marquee tech stocks, some of this year’s biggest winners, were pulling back, a number of names in the beaten-down retail space have been outperforming this morning. Of note, Macy’s (M) is up 8%, Target (TGT) is up almost 8%, and Nordstrom (JWN) is up 7%. Among the noteworthy losers was Autodesk (ADSK), which dropped 16% after its Q3 earnings report was called a disappointment by analysts, several of whom noted that its net subscriber additions slowed sequentially. Also lower amid the broad rout in tech were chipmakers, including Micron (MU) and Western Digital (WDC), and semiconductor equipment suppliers Lam Research (LRCX) and Applied Materials (AMAT). INDEXES: Near midday, the Dow was up 42.00, or 0.18%, to 23,878.71, the Nasdaq was down 107.24, or 1.55%, to 6,805.12, and the S&P 500 was down 4.26, or 0.16%, to 2,622.78.