Stock Market Update

[BRIEFING.COM] Small-cap stocks have been a weak link in today's trade with energy and financial shares trailing. The Russell 2000 is down 0.9%, but continues to sit on a healthy 7.6% gain for the quarter.

The rest of the market is simply languid, missing the vigor of past sessions as buyers have shown some restraint. 

The same can be said for Treasuries. Not much vigor today on the part of buyers in that market either. The 2-yr note yield settled the cash session unchanged at 3.55% while the 10-yr note yield jumped five basis points to 3.78% in a continued curve-steepening trade.

The $70 billion 5-yr note auction earlier didn't cause much of a stir. Like the 2-yr note auction yesterday, the 5-yr note auction saw the high yield of 3.519% match the when-issued yield.

Thursday's session will include a $44 billion 7-yr note auction, as well as the response to earnings reports from Micron (MU 95.19, +1.19, +1.2%) and CarMax (KMX 74.79, -1.71, -2.2%), and the weekly initial and continuing jobless claims, revised Q2 GDP, August Durable Goods Orders, and August Pending Home Sales reports.