Stock Market Update

[BRIEFING.COM] The major averages are hanging onto slight gains after weak economic data knocked equity futures down from their morning highs.

The market is showing some impressive resilience, which is owed in part to a rally in Treasuries that has the 10-yr yield falling eight basis points to 4.39%. This puts the benchmark yield on track for its lowest settlement since early May with its 50-day moving average (4.350%) looming just below.

Seven sectors sport early gains with communication services (+1.2%) leading, thanks to a strong start from top component Meta Platforms (META 685.73, +18.88, +2.8%) and gains in roughly half of the remaining sector members.