Stock Market Update

[BRIEFING.COM] Recent action saw the S&P 500 (-0.6%) return to its opening level, though the overall bias remains negative with nine sectors trading lower, led by heavily-weighted financials (-1.5%) and technology (-1.0%).

Market breadth remains negative with 3.5 NYSE listings trading lower for each advancer while the Nasdaq is seeing 3.9 listings in the red for each advancer. We will revisit this metric later today to see how well dip buying efforts are stacking up to increased geopolitical uncertainty.

Unlike stocks, Treasuries are dealing with continued pressure that is keeping them on their lows with the 10-yr yield up six basis points at 4.42% today, though it is down nine basis points for the week.