Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite trade just off session highs. 

Treasuries settled the session with gains. The 10-yr yield dropped four basis points to 4.17% and the 2-yr yield settled two basis points lower at 3.66%. 

Looking ahead to Wednesday, market participants receive the following data:

• 7:00 ET: Weekly MBA Mortgage Index (prior -12.7%)
• 8:15 ET: April ADP Employment Change (Briefing.com consensus 128,000; prior 77,000)
• 8:30 ET: Q1 Employment Cost Index (Briefing.com consensus 0.9%; prior 0.9%), advance Q1 GDP (Briefing.com consensus 0.4%; prior 2.4%), advance Q1 GDP Deflator (Briefing.com consensus 3.1%; prior 2.3%)
• 9:45 ET: April Chicago PMI (Briefing.com consensus 46.0; prior 47.6)
• 10:00 ET: March Pending Home Sales (Briefing.com consensus -0.2%; prior 2.0%); March Personal Income (Briefing.com consensus 0.4%; prior 0.8%), Personal Spending (Briefing.com consensus 0.4%; prior 0.4%), PCE Prices (Briefing.com consensus 0.0%; prior 0.3%), and Core PCE Prices (Briefing.com consensus 0.1%; prior 0.4%)
• 10:30 ET: Weekly crude oil inventories (prior +244,000)