Stock Market Update

[BRIEFING.COM] The stock market opened to upside action. The S&P 500 is higher by 0.4% in early action and the Nasdaq Composite shows a 0.6% gain. 

Gains in the mega cap space have contributed to index performance, but many stocks are participating. Advancers lead decliners by a nearly 2-to-1 margin at both the NYSE and at the Nasdaq. The Invesco S&P 500 Equal Weight ETF (RSP) shows a 0.2% gain.

Seven of the 11 S&P 500 sectors show gains thus far. The energy sector leads the outperformers with a 0.8% gain. The heavily-weighted information technology (+0.8%) and communication services (+0.7%) sectors are also top performers. 

Treasuries moved off their overnight high yields. The 10-yr note yield, which hit 4.25% earlier, sits at 4.23% now.