Stock Market Update

[BRIEFING.COM] The stock market opened on an upbeat note. The S&P 500 (+0.2%), Dow Jones Industrial Average (+0.3%), and Nasdaq Composite (+0.3%) are higher and the Russell 2000 outperforms, trading up 1.0%. 

Yesterday's turnaround action set the stage for today's upside moves. Some cooler-than-expected inflation numbers this morning and calm action in Treasuries have also supported the positive bias in equities. The monthly readings for the Producer Price Index were better-than-expected in December and Treasury yields are right around levels seen before the 8:30 ET report.

The 10-yr yield, which is most sensitive to changes in inflation, is down one basis point to 4.79%. The 2-yr yield is down two basis points to 4.38%.

Many stocks have participated in today's upside ride. Advancers lead decliners by a 7-to-2 margin at the NYSE and a better than 2-to-1 margin at the Nasdaq. The equal-weighted S&P 500 trades 0.7% higher.