Stock Market Update

[BRIEFING.COM] The stock market opened lower, returning to a familiar pattern of late. Growth concerns, at least as it relates to earnings prospects, are a big driving factor. This follows earnings reports and commentary from FedEx (FDX 218.28, -27.921, -11.3%), Nike (NKE 66.18, -5.69, -7.9%), Lennar (LEN 111.61, -8.45, -7.1%), and Micron (MU 95.27, -7.70, -7.5%).

All 11 S&P 500 sectors are lower with four of them showing declines larger than 1.0%. 

It's also a quarterly options expiration day, which will result in heavy volume at the NYSE and Nasdaq. 

Treasuries aren't moving much today, sitting on gains this week. The 10-yr yield is down one basis point from yesterday, and down nine basis points this week, to 4.22%.