Stock Market Update

[BRIEFING.COM] The major averages hover near their rebound highs but that still leaves the S&P 500 down 0.3% for the day and down 0.3% for the week.

Seven sectors are on track to record losses for the week, ranging from -0.2% (consumer discretionary) to 2.2% (consumer staples).

On the upside, the technology sector (+0.2%) is up 0.6% for the week while energy (+0.5%) has advanced a solid 2.5% since last Friday's settlement. Crude oil has contributed to this week's strength in the energy sector, having returned to its 200-day moving average (68.49). The energy component is up 2.7% at $68.36/bbl today and up 2.1% for the week.

Treasuries are on their lows with the 10-yr yield rising seven basis points to 4.42%.