Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%) and Nasdaq (+0.3%) trade near their rebound highs while the Dow (-0.8%) and Russell 2000 (-1.0%) remain not far from their session lows.

The divergence results from a big divide in performance among the eleven S&P 500 sectors, as most continue trading lower with health care (-1.2%), financials (-1.0%), energy (-1.0%), and utilities (-1.1%) all down more than 1.0%. Conversely, technology (+0.3%) and communication services (+2.1%) trade well ahead of the broader market, explaining the outperformance in the Nasdaq.

Treasuries remain in the red, having dipped from their rebound highs over the past hour. As a result, the 30-yr yield (+5 bps to 5.02%) is just a basis point below its high from Monday.