Stock Market Update

[BRIEFING.COM] The stock market opened to upside action on this holiday-shortened session. The NYSE closes at 1:00 p.m. ET today. 

Rebound action in semiconductor-related stocks is boosting the broader equity market after losses this week. The PHLX Semiconductor Index (SOX) shows a 1.8% gain today, leaving the SOX down 0.3% since last Friday. 

A drop in market rates has contributed to the positive bias. The 10-yr yield is down four basis points to 4.20% and the 2-yr yield is down five basis points to 4.17%.

Buying activity has been broad based, yet relatively muted. Ten of the 11 S&P 500 sectors are higher, but moves are limited. The information technology sector leads the pack, up 0.7%, followed by consumer discretionary (+0.4%). The materials sector is the worst performer, down 0.03% from Wednesday.