Stock Market Update

[BRIEFING.COM] The major indices are holding steady ahead of the close. The S&P 500 reached a new record high of 6,104.25.

The 10-yr yield settled four basis points higher at 4.64% and the 2-yr yield settled two basis points lower at 4.28%. The market was digesting the latest weekly jobless claims report, which showed a larger increase in claims than the market had expected. 

Tomorrow's session will feature the release of flash Manufacturing and Services PMI readings from the U.S. and other major economies, but the market will also get a chance to respond to what is expected to be a 25-basis point rate hike from the Bank of Japan.