Stock Market Update

[BRIEFING.COM] The major averages have rallied off their lows with the S&P 500 trimming its initial loss to just 0.1%.

The market is showing some early resilience as it heads for the final few trading hours of the month, which saw a continuation of the rally off April lows. Ten out of eleven sectors are on course to finish the month in positive territory with technology (-0.5%; +10.8% month-to-date) and the consumer discretionary sector (+0.1%; +10.1% month-to-date) in the lead. Conversely, only the health care sector (+0.1%; -5.9% month-to-date) is down for the month.

Treasuries hold modest gains with the 10-yr yield down two basis points at 4.40% today and up 22 basis points for the month.