Stock Market Update

[BRIEFING.COM] The major indices opened mostly higher, but moves are fairly modest. The S&P 500 is 0.1% higher and the Dow Jones Industrial Average sports a 0.3% gain.

Weakness in the semiconductor space has led the Nasdaq Composite (-0.01%) to underperform compared to other major indices. The PHLX Semiconductor Index trades 1.2% lower.

This price action has also weighed down the S&P 500 information technology sector (-0.3%), which is the only sector trading lower. Meanwhile, the communication services (+0.8%), consumer discretionary (+0.5%), and financials (+0.4%) sectors show some of the largest gains.

The Leading Indicators Index dropped 0.6% in July (Briefing.com consensus -0.3%) following a 0.2% decline in June.

Treasury yields are little changed in front of a busy week, featuring the Minutes from the July 30-31 FOMC meeting on Wednesday and Fed Chair Powell's speech in Jackson Hole on Friday. The 10-yr note yield is at 3.89% and the 2-yr note yield is at 4.07%.