Stock Market Update

[BRIEFING.COM] The stock market has seen some recent backtracking from highs after President Trump defended his "big beautiful bill" against criticism from Elon Musk. This makes for a continuation of a bumpy session that has seen the S&P 500 mark a high just below the 6,000 level.

The intraday volatility results from a lack of clear leadership, as today's top-performing sectors trade only a bit ahead of other advancers. Top-weighted technology (+0.7%) lagged in early action, but it now shares the lead with communication services (+0.7%). On the downside, the consumer staples sector (-1.0%) remains at the bottom of today's leaderboard.

Treasuries sit near their lows with the 10-yr yield up two basis points at 4.39% after starting the day just below its 50-day moving average (4.351%).