Stock Market Update

[BRIEFING.COM] The indices are not sporting big gains or big losses, yet they are exuding resilience once again, having quickly overcome some early selling pressure.

The semiconductor space, which has been a leader throughout the week, helped drive the rebound effort. The Philadelphia Semiconductor Index was down 0.6% to start the day but is now up 0.5%. That gain leaves it up 4.4% for the week, versus a 2.1% gain for the S&P 500, and up 10.6% for the month.

Elsewhere, the 10-yr Treasury note yield sits at 4.38%. That is down three basis points from yesterday's settlement but up one basis point from where it was just before the 8:30 a.m. ET release of the May Producer Price Index.

Treasury yields have trended higher along with stocks forging their recovery effort, implying perhaps some shift work out of bonds and into stocks.