Stock Market Update

[BRIEFING.COM] The stock market opened to upside action after recent declines had the S&P 500 nearing correction territory. The three major indices show gains ranging from 0.5% to 0.9%. 

Many stocks are participating in a broad advance, but upside moves are relatively modest compared to losses registered over the last several sessions. The equal-weighted S&P 500 is 1.5% higher and all 11 S&P 500 sectors are trading higher.

Seven of the S&P 500 sectors are higher by 1.0% or more. The rate-sensitive real estate (+1.7%) and utilities (+1.5%) sectors are near the top of the leaderboard despite a jump in market rates today.

The 10-yr note yield is up four basis points to 3.83% and the 2-yr note yield is up seven basis points to 3.94%.