Stock Market Update

[BRIEFING.COM] The stock market opened to gains in front of a busy week. The S&P 500 and Nasdaq Composite are slightly higher than Friday, moving further into record territory, while the Dow Jones Industrial Average (+0.5%) and Russell 2000 (+0.8%) outperform.

Buying activity is relatively broad based. The equal-weighted S&P 500 shows a 0.4% gain and nine of the 11 S&P 500 sectors are higher led by the financials sector (+0.6%).

Bank stocks are showing solid gains in front of earnings news from large cap banks like JPMorgan Chase (JPM 206.05, +1.21, +0.6%), Wells Fargo (WFC 59.85, +0.23, +0.4%), and Citigroup (C 64.50, +0.47, +0.7%). The SPDR S&P Bank ETF (KBE) is trading 1.2% higher. 

Treasury yields are little changed, acting as support for equities. The 10-yr note yield is up one basis point to 4.28% and the 2-yr note yield is up two basis points to 4.62%.