Stock Market Update

[BRIEFING.COM] The major indices have made a solid recovery off their initial lows, with participants having been heartened by the pleasing inflation readings in the March Personal Income and Spending Report that were released at 10:00 a.m. ET.

There isn't a lot of absolute strength in the market at the moment, but there has been a lot of relative improvement. To wit: the information technology sector had been down as much as 2.7% and is now down 1.1%.

The Treasury market has calmed down, too, and has been a contributing factor in today's rebound action. The 10-yr note yield, which climbed to 4.22% after the unsightly Q1 GDP Price Deflator, is back to 4.16%, down one basis point from yesterday's settlement.