Stock Market Update

[BRIEFING.COM] The major indices start the session trading higher by more than 2% on strong retail sales data, stimulus prospects, and COVID-19 hopes. The S&P 500 is up 2.6%, the Dow Jones Industrial Average is up 3.0%, and the Nasdaq Composite is up 2.1%. 

All 11 S&P 500 sectors are trading in positive territory by at least 1.5%. The industrials (+4.2%), energy (+3.8%), and financials (+3.4%) sectors lead in gains, while the communication services sector (+1.7%) underperforms. 

U.S. Treasuries are trading lower, driving yields higher in a curve-steepening trade. The 2-yr yield is up two basis points to 0.20%, and the 10-yr yield is up six basis points to 0.76%. The U.S. Dollar Index is up 0.1% to 96.82. WTI crude is up 3.4% to $38.42/bbl.