Stock Market Update

The stock market is on course for a modestly lower start with the S&P 500 futures trading 20 points below fair value after yesterday's record finish.

The early selling has been limited, and if recent history is any indication, the market could overcome the soft start with ease.

The Dow outperformed yesterday and it is set to begin slightly ahead of the other indices today.A handful of economic releases will cross the wires this morning, starting with the final June S&P Global U.S. Manufacturing PMI (prior 52.0) at 9:45 ET, followed by May Construction Spending (Briefing.com consensus -0.2%; prior -0.4%), May job openings (prior 7.391 mln), and the June ISM Manufacturing Index (Briefing.com consensus 48.8%; prior 48.5%) at 10:00 ET.

Treasuries started the day in positive territory before backing down from their early highs, which returned the 10-yr yield to little changed at 4.23%.