Stock Market Update

[BRIEFING.COM] There has been a lull in the buying action, as this week's consolidation activity persists. That, of course, follows a huge run by the indices off the April 7 lows that translated into a gain of as much as 18% for the S&P 500 at yesterday's high.

The S&P 500 began the week at 5686.67 and sits at 5661.53 now.

A wait-and-see stance for today's market is certainly understandable given the specter of the market-moving meeting this weekend in Switzerland between Treasury Secretary Bessent, U.S. Trade Representative Jamieson Greer, and China's Vice Premier He Lifeng.

Separately, the Treasury market has seen buyers emerge as stocks have fluttered, giving back their opening gains and then some. The 2-yr note yield is down four basis points to 3.85%, and the 10-yr note yield is down two basis points to 4.35%.