Stock Market Update

[BRIEFING.COM] The stock market opened to somewhat mixed action. The major indices trade slightly lower than yesterday after some influential economic releases. 

The October Producer Price Index reflected rising inflation at the wholesale level while weekly jobless claims remained below recession-like levels, reflecting ongoing strength in the labor market that may translate to higher consumer spending, adding more pressure on inflation.

Treasury yields are lower in response to the data. The 10-yr yield, which reached 4.47% earlier, sits at 4.42% now. 

Stocks haven't responded favorably to the price action in Treasuries. Seven of the S&P 500 sectors are lower. The health care (-0.7%) and consumer discretionary (-0.5%) sectors are the biggest loser thus far.

Walt Disney (DIS 111.72, +8.88, +8.7%) has been a standout winner after reporting earnings.