Stock Market Update

[BRIEFING.COM] The major indices are fractionally lower heading into the close.

Treasuries settled higher, building on yesterday's gains. The 10-yr yield dropped four basis points to 4.32%, and the 2-yr yield was unchanged at 3.83%. 

There's a big slate of data to get through on Wednesday, including:

• 7:00 ET: Weekly MBA Mortgage Index (prior 20.0%)
• 8:30 ET: March Retail Sales (Briefing.com consensus 1.3%; prior 0.2%), Retail Sales ex-auto (Briefing.com consensus 0.2%; prior 0.3%)
• 9:15 ET: March Industrial Production (Briefing.com consensus -0.3%; prior 0.7%) and Capacity Utilization (Briefing.com consensus 77.9%; prior 78.2%)
• 10:00 ET: February Business Inventories (Briefing.com consensus 0.3%; prior 0.3%) and April NAHB Housing Market Index (Briefing.com consensus 39; prior 39)
• 10:30 ET: Weekly crude oil inventories (prior +2.55 mln)
• 16:00 ET: February Net Long-Term TIC Flows (prior -$45.2 bln)