Stock Market Update

[BRIEFING.COM] The opening action is mixed, with modest moves by the Dow, Nasdaq, and S&P 500. The Russell 2000 (+0.4%), though, continues to benefit from rebalancing action (and a catch-up trade of sorts). Last week, the Russell 2000 gained 3.2% and outperformed all the major indices.

The S&P 500 continues to vacillate around the 6,000 level, garnering support from an early bid in the semiconductor space. The Philadelphia Semiconductor Index is up 1.7%, with NVIDIA (NVDA 143.94, +2.23, +1.57%) setting a nice leadership pace.

Elsewhere, Treasuries are sporting some small gains that have pushed yields lower after some seesaw action overnight. Currently, the 2-yr note yield is down three basis points to 4.01% and the 10-yr note yield is down two basis points to 4.49%.