Stock Market Update

[BRIEFING.COM] The S&P 500 trades highest by 0.2%, extending this week's gain to 1.2%.

Seven sectors are among the early advancers with communication services (+0.9%), health care (+0.7%), and energy (+0.3%) leading the early advance while utilities (-1.1%), consumer staples (-0.4%), and the consumer discretionary sector (-0.4%) lag.

Just released, the ISM Services Index for May hit 49.9% (Briefing.com consensus 52.0%), down from 51.6% in April. Reported earlier, the final May reading of the S&P Global U.S. Services PMI hit 53.7, up from 52.3 in the preliminary reading and 50.8 in the final reading for April.

Treasuries remain near their early highs with the 10-yr yield down five basis points at 4.41%.