Stock Market Update

[BRIEFING.COM] The stock market trades in a positive fashion after the S&P 500 ended a six-week winning streak last week. The S&P 500 sports a 0.4% gain today, the Nasdaq Composite trades 0.5% higher than Friday, and the Dow Jones Industrial Average trades up 0.7%. The small cap Russell 2000 leads the market, showing a 1.7% gain after sinking 3.0% last week. 

Mega cap stocks, including names that report earnings this week, are a key source of support for the major indices. Alphabet (GOOG 168.40, +1.41, +0.8%), which reports on Tuesday, Meta Platforms (META 576.22, +3.08, +0.5%), which reports on Wednesday, and Apple (AAPL 233.37, +1.96, +0.9%) and Amazon.com (AMZN 189.22, +1.40, +0.8%), which report on Thursday are standouts in that respect.

Microsoft (MSFT 427.94, -0.21, -0.1%) also reports results on Wednesday, but has traded above and below its prior close. 

Easing geopolitical tension has contributed to positive sentiment today after Israel's retaliation against Iran was limited to military targets, sparing oil and nuclear facilities. WTI crude oil futures are down 5.7% to $67.65/bbl. This has contributed to price action in the energy sector, which trades down 1.0%.

It's the only sector trading lower while the remaining ten sectors show gains ranging from 0.1% to 1.0%.

Stocks have maintained gains despite rising market rates. The 10-yr yield moved from 4.23% to 4.28% and the 2-yr yield moved from 4.10% to 4.14%.

There was no US economic data of note today.