Stock Market Update

[BRIEFING.COM] The major indices trade near their best levels of the session. The S&P 500 is up 0.3% and the Nasdaq Composite sports a 0.8% gain. 

The Conference Board's Consumer Confidence Index dropped to 100.4 in June (Briefing.com consensus 100.0) from a downwardly revised 101.3 (from 102.0) in May, with expectations weighing on the overall index.

The key takeaway from the report is that expectations for future income weakened. If that perception builds and/or is realized, then it is apt to detract from discretionary spending activity. 

Treasury yields are little changed from yesterday. The 10-yr note yield is down one basis point to 4.24% and the 2-yr note yield is up one basis point to 4.74%.