Stock Market Update

[BRIEFING.COM] The stock market opened to mixed action in the major indices amid rising market rates and selling in some influential names. The S&P 500 sports a 0.1% gain and the market-cap weighted S&P 500 trades 0.6% higher. 

Money is rotating away from mega cap names like Apple (AAPL 244.67, -0.31, -0.1%), which was downgraded to Sell from Neutral at MoffettNathanson, and Tesla (TSLA 405.50, -5.25, -1.3%), which was downgraded to Neutral from Buy at BofA Securities, into other areas of the market. 

NVIDIA (NVDA 145.93, -3.57, -2.5%) is another influential loser, initially trading slightly higher after Jensen Huang's keynote address last night at the Consumer Electronics Show.

The ISM Services PMI rose to 54.1% in December (Briefing.com consensus 53.0%) from 52.1% in November. 

JOLTS - Job Openings totaled 8.098 million in November following a total of 7.839 million in October (revised from 7.744 million). 

The 10-yr yield was already moving higher and jumped in response to the data. The 10-yr yield was at 4.63% a short time ago, and sits at 4.68% now.