Stock Market Update

[BRIEFING.COM] The stock market opened to lackluster action. The major indices are sitting on nice gains this week, leading to a lack of conviction. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average are little changed from yesterday's closing levels.

None of the S&P 500 sectors are moving more than 0.4% in either direction. The communication services (+0.4%), consumer discretionary (+0.3%), and financial (+0.3%) sectors are showing relative strength so far while the energy sector sports the "biggest" decline, down 0.3%. 

The University of Michigan Consumer Sentiment survey rose to 67.8 in the preliminary August reading (Briefing.com consensus 66.7) from 66.4 in July.

The 2-yr note yield is down three basis points to 4.07% and the 10-yr note yield is down three basis points to 3.90%.