Stock Market Update

[BRIEFING.COM] The stock market continues to chop around, leading the major indices to trade near yesterday's closing levels. 

Consumer credit decreased by $7.5 billion in November (Briefing.com consensus $9.1 billion) after increasing a downwardly revised $17.3 billion (from $19.2 billion) in October.

The key takeaway from the report is that consumer credit contracted in November for only the third time in the past 16 months with revolving credit, which is subject to extra high interest rates, acting as the drag.

Separately, the Treasury market settled little changed from yesterday after a choppy session. The 10-yr yield rose one basis point to 4.69% and the 2-yr yield settled one basis point lower at 4.29%.