Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.4%) remains just above its early low while the Nasdaq (-0.2%) has shown some more resilience, though it too continues trading in the red so far today.

The early weakness comes alongside selling in Treasuries, which is weighing on sentiment as the 30-yr yield nears its high from Monday. The first couple hours of action in the Treasury market have seen some buying, but even with the rebound, the 30-yr yield is still up four basis points at 4.53% while the 2-yr yield is up three basis points at 4.00%. The weakness in longer tenors comes ahead of today's $16 bln 20-yr bond sale that will be completed at 13:00 ET.

Ten sectors continue holding early losses with health care (-1.2%) and consumer discretionary (-0.9%) at the bottom of the heap.