Stock Market Update

The stock market remains on track for a lower opening as rising oil prices and Treasury yields combine with lingering weakness across semiconductor stocks to create a hostile backdrop for stocks this morning.

This morning's developments have the CBOE Volatility Index up 7.5% to 17.34 as the market braces for what has the potential to be a bumpy session if new developments are made on the political front or if investors decide to step in on the recent weakness across semiconductor stocks. Either way, early action is likely to be more broadly weak than the back-and-forth churn that has kept the major averages moving sideways in recent sessions.