Stock Market Update

[BRIEFING.COM] The S&P 500 moved lower over the last half hour. The Nasdaq Composite moved further below its prior closing level, down about 50 points now. 

The final University of Michigan Index of Consumer Sentiment for November dipped to 71.8 (Briefing.com consensus 73.0) from the preliminary reading of 73.0. The final reading for October was 70.5. In the same period a year ago, the index stood at 61.3.

The key takeaway from the report is that consumer sentiment held fairly steady in the wake of the election, albeit with offsetting economic expectations that were aligned with partisan positions.

Treasury yields moved higher after the data. The 10-yr yield was at 4.39% a short time ago, but sits at 4.42%.