Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.5%) and Nasdaq Composite (-1.1%) trade lower. Treasury yields are still a big driving factor for selling in equities. The 10-yr yield is at 4.77% and the 2-yr yield is at 4.40%. 

The Dow Jones Industrial Average outperforms the broader equity market due to a big gain in one of its weightiest components UnitedHealth (UNH 538.13, +17.44, +3.4%). This follows news after Friday's close that the U.S. proposed a 4.3% increase to Medicare Advantage plan payments, a $21 billion boost to insurers for Medicare payments, according to Bloomberg.

The equal-weighted S&P 500 also trades up 0.1%, reflecting some buying under the index surface. 

The best performing S&P 500 sector so far in energy (+1.9%), responding to rising oil prices ($77.63/bbl, +1.05, +1.4%).