Stock Market Update

[BRIEFING.COM] It was a choppy day for stocks. The market started, and ended, the session higher. The major equity indices traded below their prior closing levels around mid-day, though. The Nasdaq Composite recovered from its session low, but didn't manage a positive finish due to weakness in some mega caps. The S&P 500 settled fractionally higher than Friday and the Dow Jones Industrial Average was up more than 100 points.

The mixed trading reflected a wait-and-see mindset ahead of a busy week. Participants receive earnings results from more than 160 S&P 500 companies, including Microsoft (MSFT 391.16, -0.69, -0.2%), Meta Platforms (META 549.74, +2.47, +0.5%), Apple (AAPL 210.14, +0.86, +0.4%), and Amazon.com (AMZN 187.70, -1.29, -0.7%). 

There's also a lot of economic data to get through, including the Adv. Q1 GDP Report, the March Personal Income and Spending Report, the April ISM Manufacturing Index, and the April Employment Situation Report.

The mixed bias in the market led to mostly muted moves. None of the S&P 500 sectors moved more than 0.7%. The rate-sensitive utilities (+0.7%) and real estate (+0.7%) sectors led the bunch while the technology sector brought up the rear, logging a 0.3% decline.

The 10-yr yield settled five basis lower at 4.22% and the 2-yr yield settled eight basis points lower at 3.68%.

There was no US economic data of note today.

• Dow Jones Industrial Average: -5.5% YTD
• S&P 500: -6.0% YTD
• S&P Midcap 400: -8.9% YTD
• Nasdaq Composite: -10.1% YTD
• Russell 2000: -11.9% YTD

Looking ahead to Tuesday, market participants receive the following data:

• 8:30 ET: Advance March International Trade in Goods (prior -$147.9 bln), advance March Retail Inventories (prior 0.1%), advance March Wholesale Inventories (prior 0.3%)
• 9:00 ET: February FHFA Housing Price Index (prior 0.2%) and February S&P Case Shiller Home Price Index (Briefing.com consensus 4.7%; prior 4.7%)
• 10:00 ET: April Consumer Confidence (Briefing.com consensus 88.3; prior 92.9) and March Job Openings (prior 7.568 mln)