Stock Market Update

The S&P 500 futures trade seven points above fair value.

Investors will be eager to see how the market follows yesterday's big rally that lifted the S&P 500 back into positive territory for the year with its May high in sight. There are still three more sessions left in May, including today, with the S&P 500 entering today with a 6.3% gain for the month.

Nine out of eleven sectors are up for the month with technology (+11.0% month-to-date) and consumer discretionary (+10.8% month-to-date) holding the top two spots on the May leaderboard.

Treasuries started the day on a slightly lower note with the 10-yr yield rising one basis point to 4.44%.