Stock Market Update

[BRIEFING.COM] Equity indices are hanging onto their gains with the Nasdaq (+1.4%) in the lead.

The tech-heavy Nasdaq has enjoyed broad-based strength with support from chipmakers and other tech names while biotech shares have also played a part in the outperformance. The iShares Nasdaq Biotechnology ETF (IBB 127.08, +2.14, +1.71%) is rising to a one-week high while the broader health care sector (+0.7%) trades a bit behind the broader market amid relative weakness in select insurer names.

Treasuries trade on their highs with the 10-yr yield down one basis point at 4.31% and its 200-day moving average (4.302) looming below. This puts the benchmark yield on track for its lowest settlement since early May.