Stock Market Update

[BRIEFING.COM] The stock market opened higher, benefitting from some buy-the-dip interest after losses in recent sessions. The S&P 500 sports a 0.2% gain, the Nasdaq Composite trades 0.1% higher, and the Dow Jones Industrial Average shows a 0.3% gain. 

Buying activity is broad based, leading the equal-weighted S&P 500 to trade 0.6% higher. All 11 S&P 500 sectors show gains. The energy sector leads the pack, trading 1.2% higher, followed by the rate-sensitive real estate sector (+0.7%) amid falling Treasury yields.

The price action in Treasuries has also contributed to the upside bias in equities. The 10-yr yield is down three basis points to 4.52% and the 2-yr yield is down two basis points to 4.23%. 

Some mega cap stocks have been left out of early gains.  NVIDIA (NVDA 136.52, -0.99, -0.7%) and Broadcom (AVGO 234.74, -0.80, -0.3%) are standouts in that respect.