Stock Market Update

[BRIEFING.COM] The stock market started the final session of May on a lower note with the S&P 500 (-0.5%) trimming this month's gain to 5.7% amid early losses in ten out of eleven sectors.

While most groups trade lower, only two sectors are down more than 0.6%, though that includes top-weighted technology (-0.9%). The other laggard is the energy sector (-0.7%), which has underperformed throughout the month.

On the upside, the consumer staples sector (+1.1%) holds a solid gain, thanks in large part to a Q3 beat from Costco (COST 1035.97, +27.23, +2.7%).

Treasuries hold slim gains after a rangebound start to the day with the 10-yr yield down one basis point at 4.42%.

Just reported, the final reading of the University of Michigan's Consumer Sentiment Index for May hit 52.2 (Briefing.com consensus 50.8).