Stock Market Update

[BRIEFING.COM] The stock market is in rally-mode again today. The positive bias is driven by momentum following yesterday's advance, along with shifting sentiment around the president's views on Fed independence and trade talks with China.

President Trump told reporters that he has no intention of firing Fed Chair Powell. The president also said he will not "play hardball" in trade talks with China, adding that tariff rates will come down substantially if the two sides reach a deal.

Only one S&P 500 sectors trades up less than 1.0% -- consumer staples (+0.4%). The remaining ten sectors show gains ranging from 1.1% (energy) to 4.4% (consumer discretionary). 

The 10-yr note yield is down 10 basis points to 4.29%.