Stock Market Update

[BRIEFING.COM] The major averages have climbed past their initial highs in reaction to some additional headlines pertaining to the call between President Trump and China's President Xi. The S&P 500 (+0.1%) trades a bit behind the Nasdaq (+0.3%) and ahead of the Dow (-0.1%).

China's President Xi reportedly said that the two sides should increase cooperation and that the Geneva agreement has been implemented. Furthermore, the two sides reportedly agreed to resume trade talks soon.

The early volatility in equities has taken place alongside a steady pullback in Treasuries. The 10-yr yield is now up one basis point at 4.38% while the 2-yr yield is up two basis points at 3.90%.