Stock Market Update

[BRIEFING.COM] The major averages trade mixed as sector strength remains almost evenly split. 

Interest rates have fallen in response to the June PPI report, which saw PPI and Core PPI remain unchanged month-over-month in June. The 10-year note yield is currently down five basis points at 4.44%.

There is some notable strength in defensive sectors today, as the health care (+1.0%) and real estate (+0.6%) sectors are the top performers.

Shares of Johnson & Johnson (JNJ 163.57, +8.40, +5.4%) are climbing higher after reporting strong upside results for Q2 for both EPS and revs. Revenue grew 5.8% year-over-year (+4.6% operational growth) to $23.74 billion. It also raised FY25 EPS and revenue guidance. JNJ saw year-over-year growth in both its Innovative Medicine (formerly known as Pharma) and MedTech segments.