Stock Market Update

[BRIEFING.COM] The stock market is higher thus far, bolstered by rebound action in the mega cap space. NVIDIA (NVDA 117.10, +1.67, +1.4%), Tesla (TSLA 230.37, +4.67, +2.2%), and Meta Platforms (META 585.00, +2.64, +0.5%), which logged some of the largest declines yesterday, have led the market higher this morning.

Participants are waiting on the FOMC decision at 2:00 ET and Fed Chair Powell press conference at 2:30 ET.

Upside moves are relatively muted outside the mega cap area, though. The Invesco S&P 500 Equal Weight ETF (RSP) shows a 0.3% gain.

Calm action in Treasuries has contributed to the upside bias in equities. The 10-yr yield is up three basis points to 4.31% and the 2-yr yield is up four basis points to 4.08%.