Stock Market Update

[BRIEFING.COM] The stock market opened to mixed action. The major indices trade below prior closing levels, but market internals reflect positive price action under the index surface. The market-cap weighted S&P 500 sports a 0.1% decline and the equal-weighted S&P 500 shows a 0.2% gain.

Advancers lead decliners by a 3-to-2 margin at the NYSE and by a 4-to-3 margin at the Nasdaq. 

Small cap stocks are outperforming the broader equity market, leading the Russell 2000 to trade 0.8% higher. Meanwhile, losses in mega cap stocks have weighed down other major indices. Apple (AAPL 223.96, -0.27, -0.1%), Microsoft (MSFT 419.33, -3.69, -0.9%), and NVIDIA (NVDA 147.41, -0.95, -0.6%) all trade lower.

S&P 500 sector performance is mixed. The real estate sector leads the pack, up 1.1%, but movement in other sectors is limited. The communication services sector shows the largest decline, down 0.8%.

Treasuries have responded to this morning's CPI print with volatile action. The 10-yr yield, at 4.43% before 8:30 ET, moved to 4.36% in response, but sits at 4.42% now.