Stock Market Update

[BRIEFING.COM] The stock market opened to mixed action after a choppy week that led the S&P 500 (+0.2%) and Dow Jones Industrial Average (+0.4%) to fresh all-time highs. The Dow has extended further into record territory today while the S&P 500 trades just a few points shy of its record.

The Nasdaq Composite (flat) trades flattish, clipped by relative weakness in mega caps and chipmakers. The Vanguard Mega Cap Growth ETF (MGK) shows a 0.2% decline.

Tesla (TSLA 218.50, -20.21, -8.5%) is an influential loser from the space, sharply lower after announcing a new Robotaxi named "CyberCab" that will be priced under $30,000. Production is estimated to begin before 2027.

Market participants are digesting another inflation print this morning in the form September PPI, but the report garnered muted responses from bonds and equities. The report showed ongoing price pressures on producers at the headline and core level.

The 10-yr yield is unchanged from yesterday at 4.10% and the 2-yr yield is at 3.96%.