Stock Market Update

[BRIEFING.COM] The stock market is on track for a positive finish as the S&P 500 (+0.4%) continues to sit near its highs for the day.

The technology sector (+1.1%) has rebounded from yesterday's losses, and recently benefitted from a Bloomberg report that Oracle (ORCL 226.87, +7.91, +3.61%) and Open AI have expanded their Stargate initiative to develop more data processing centers for AI projects.

U.S. Treasuries saw some curve-steepening today, with longer-dated securities underperforming shorter-dated securities. Yields rose across the curve, which might have been surprising to some given that the ADP Employment Change Report for June showed a loss of 33,000 jobs from private-sector payrolls. Market participants, though, seemed to be reserving judgment on the labor market until they get a glimpse of the more comprehensive Employment Situation Report for June, which will be released before Thursday's open.