Stock Market Update

[BRIEFING.COM] The stock market has a negative bias thus far. Decliners lead advancers by a 3-to-2 margin at the NYSE and at the Nasdaq. 

Gains in some mega cap names have provided some support to the S&P 500 (+0.1%) and Nasdaq Composite (+0.2%), which trade slightly higher than yesterday. The Dow Jones Industrial Average (-0.1%) and Russell 2000 (-0.2%) trade lower. 

There's not a lot of conviction driving downside moves. Six S&P 500 sectors trade lower and none of the them are more than 0.6% below yesterday's closing level, except materials, which shows a 1.0% decline. 

Rising Treasury yields have kept buying activity in check, along with some profit-taking interest after huge gains in the wake of the election. The 10-yr yield is up five basis points to 4.36% and the 2-yr yield is up seven basis points to 4.32%.