Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%) has climbed to a fresh high alongside some buying in Treasuries, which has pressured yields. The 10-yr yield is now down five basis points at 4.55% while the 30-yr yield is down three basis points at 5.06% after hitting 5.15% this morning.

The consumer discretionary sector (+0.8%) is among today's outperformers after a few retailers reported earnings. Advance Auto (AAP 48.39, +17.08, +54.5%) and Urban Outfitters (URBN 73.27, +13.67, +22.9%) are up sharply after beating Q1 expectations while Ralph Lauren (RL 275.36, +1.48, +0.5%) holds a slim gain after the company beat quarterly expectations, increased its dividend, and announced a new buyback.

On the downside, Williams Sonoma (WSM 159.93, -7.99, -4.8%) has slumped back below its 200-day moving average (158.12) despite better than expected results.