Stock Market Update

[BRIEFING.COM] The S&P 500 is up 0.7% while the Nasdaq (+1.0%) outperforms in the early going.

Eight sectors display early gains with heavily-weighted technology (+1.1%), financials (+1.3%), and consumer discretionary (+1.1%) pacing the early advance while the energy sector (-0.6%) is the worst performer so far this morning as oil remains pressured. Just reported, Consumer Confidence fell to 93.0 in June (Briefing.com consensus 99.0) from a revised 98.4 (from 98.0) in May.

Treasuries continue hovering near their early lows with the 10-yr yield up four basis points at 4.36%.

The market will hear from Fed Chairman Powell today, who is taking part in the first day of his two-day semiannual testimony on monetary policy before Congress.