Stock Market Update

[BRIEFING.COM] The stock market opened higher in response to earnings news from Dow component Salesforce (CRM 358.66, +27.63, +8.6%). The Dow Jones Industrial Average sports a 0.5% gain, the S&P 500 trades 0.3% higher, and the Nasdaq Composite trades up 0.7%. 

Gains in mega caps and semiconductor shares have helped index moves also. The Vanguard Mega Cap Growth ETF (MGK) shows a 1.0% gain and the PHLX Semiconductor Index (SOX) sports a 1.4% gain. 

Treasury yields drop in response to the ISM Services Index, which declined to 52.1% in November (Briefing.com consensus 55.5%) from 56.0% in October. Earlier, the S&P Global US Services PMI rose to 56.1 in the final November reading from 55.0. 

The 10-yr yield moved from 4.27% to 4.24% and the 2-yr yield moved from 4.20% to 4.17%.