Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%) holds a modest early gain while the Nasdaq (+0.7%) outperforms.

Despite the advance at the index level, there are only three sectors trading higher to begin the day with communication services (+1.9%), technology (+0.7%), and consumer discretionary (+0.4%) showing relative strength. Conversely, utilities (-1.9%), energy (-1.5%), and health care (-0.6%) lag.

Treasuries are mixed with the 30-yr yield up two basis points at 5.11% while the 10-yr yield is down almost a basis point at 4.59%.

Just reported, Existing Home Sales hit 4.00 million in April (Briefing.com consensus 4.15 mln), down slightly from 4.02 million in March.