Stock Market Update

[BRIEFING.COM] The stock market opened higher, but there's not a lot of conviction behind the upside moves. The S&P 500 sports a 0.2% gain and the Nasdaq Composite is 0.1% higher. 

Market participants are digesting a big batch of earnings news, including results from Qualcomm (QCOM 167.43, -8.43, -4.8%) and Eli Lilly (LLY 856.89, +15.97, +1.9%).

Semiconductor stocks are a limiting factor for major indices after the QCOM results. The PHLX Semiconductor Index (SOX) sports a 0.5% decline.

Calm action in Treasuries has contributed to the continued buying interest in equities. The 10-yr yield is at 4.44%.