Stock Market Update

[BRIEFING.COM] The major averages have extended to fresh highs with help from a Wall Street Journal report indicating that Iran has signaled willingness to deescalate the conflict with Israel.

The report has exerted additional pressure on crude oil, which has now reversed the bulk of its advance from Friday, trading down $2.36, or 3.2%, at $70.62/bbl. The energy sector (-0.6%), however, remains above its low that was notched shortly after the open.

Treasuries trade on their highs, though the overall range has remained narrow in the early going. The 10-yr yield is down one basis point at 4.41% while the 2-yr yield is also down one basis point, trading at 3.95%.