Stock Market Update

[BRIEFING.COM] Stocks opened to mostly upbeat action, but moves are relatively narrow. The S&P 500 is up 0.2% and the Invesco S&P 500 Equal Weight ETF (RSP) is trading 0.4% higher. 

Losses in some mega cap names are keeping the broader market in check. NVIDIA (NVDA 122.40, -0.33, -0.3%) and Meta Platforms (META 508.65, -1.90, -0.4%) are standouts in that respect. 

The S&P Global US Services PMI was unchanged at 55.3 in the final June reading.

Factory orders dropped 0.5% in May (Briefing.com consensus 0.3%) following a revised 0.4% increase in April (from 0.7%). 

The ISM Non-Manufacturing Index dropped to 48.8% in June (Briefing.com consensus 52.5%) from 53.8% in May.

Treasury yields turned lower in response. The 10-yr note yield, at 4.40% before the data, sits at 4.36% now.