Stock Market Update

[BRIEFING.COM] The major indices are extending gains heading into the close.

The 10-yr yield settled four basis points higher at 4.30% and the 2-yr yield settled two basis points lower at 4.25%. Also, the U.S. Treasury followed yesterday's strong sale of 2-yr notes with a $70 bln 5-yr note offering that was also solid.

Looking ahead, Wednesday's calendar features a big batch of economic data due to the market holiday this week. The lineup features: 

• 7:00 ET: Weekly MBA Mortgage Index (prior 1.7%)
• 8:30 ET: October Personal Income (Briefing.com consensus 0.3%; prior 0.3%), Personal Spending (Briefing.com consensus 0.2%; prior 0.5%), PCE Prices (Briefing.com consensus 0.2%; prior 0.2%), Core PCE Prices (Briefing.com consensus 0.3%; prior 0.3%), Q3 GDP -- second estimate (Briefing.com consensus 2.8%; prior 2.8%), Q3 GDP Deflator -- second estimate (Briefing.com consensus 1.8%; prior 1.8%), October Durable Orders (Briefing.com consensus 0.4%; prior -0.8%), Durable Orders ex-transportation (Briefing.com consensus 0.3%; prior 0.4%), October advance goods trade balance (prior -$108.2 bln), advance Retail Inventories (prior 0.8%), Advance Wholesale Inventories (prior -0.1%), weekly Initial Claims (Briefing.com consensus 217,000; prior 213,000), and Continuing Claims (prior 1.908 mln)
• 10:00 ET: October Pending Home Sales (Briefing.com consensus -1.5%; prior 7.4%)
• 10:30 ET: Weekly crude oil inventories (prior +0.545 mln)
• 12:00 ET: Weekly natural gas inventories (prior -3 bcf)