Stock Market Update

[BRIEFING.COM] The stock market has exhibited mixed action at the index level today. Moves in either direction have been limited, though, as investors wait on key economic releases this week. The Producer Price Index (Tuesday), the Consumer Price Index (Wednesday), Retail Sales (Thursday), and Housing Starts (Friday) are among the influential reports.

Mega caps, semiconductor stocks, and growth stocks are trading higher, providing a measure of support to index performance. The Vanguard Mega Cap Growth ETF (MGK) is 0.3% higher, the PHLX Semiconductor Index (SOX) is 0.5% higher. NVIDIA (NVDA 109.48, +4.75, +4.5%) is a standout in that respect.

KeyCorp (KEY 15.93, +1.32, +9.0%) is another notable winner, rallying on news of a minority investment from Bank of Nova Scotia. KEY hit a fresh 52-week in response.

The New York Fed's Survey of Consumer Expectations showed that median one- and five-year-ahead inflation expectations were unchanged in July at 3.0% and 2.8%, respectively, while median three-year-ahead inflation expectations declined by 0.6 percentage point to 2.3%. This was the lowest level since the survey's started in June 2013.

Today's economic lineup is limited to the July Treasury Budget at 2:00 p.m. ET.

Treasury yields are lower in front of the data. The 10-yr note yield is down four basis points to 3.90%.