[BRIEFING.COM] The S&P 500 (-0.7%), Nasdaq Composite (-0.8%), and DJIA (-0.7%) finished lower today, pressured by rising yields and weakness across mega-cap stocks.

The communication services (-1.6%) and consumer discretionary (-1.3%) sectors were hindered by weak leadership across their largest components, including Alphabet (GOOG 384.90, -8.21, -2.09%) and Amazon (AMZN 259.34, -5.52, -2.08%). The Vanguard Mega Cap Growth ETF finished 0.9% lower, contributing to losses at the index level.

Notably, the information technology sector (-0.7%) finished with a more modest loss despite early-session weakness. Semiconductor names opened with a continuation of yesterday's decline, though buyers began stepping in late in the morning. The PHLX Semiconductor Index (flat) reversed a significant early drop and climbed as much as 1.5% at its intraday highs, helping the major averages briefly approach their flatlines. Memory names such as Sandisk (SNDK 1383.29, +50.28, +3.77%) and Micron (MU 698.74, +17.20, +2.52%) led the advance, while Intel (INTC 110.80, +2.63, +2.43%) also notched a nice gain.

Session highs did not hold, however, and the major averages finished firmly lower.

Other laggards include the materials sector (-2.3%), which posted the widest loss as nearly all of its components traded lower. Construction materials names such as DuPont (DD 46.56, -2.08, -4.28%) and CRH Plc. (CRH 98.53, -4.86, -4.70%) were among the weakest performers as another rise in Treasury yields pressured rate-sensitive and cyclical areas tied to housing and construction demand.

The iShares U.S. Home Construction ETF finished 1.5% lower.

Builders FirstSource (BLDR 66.39, -3.79, -5.40%) was a notable laggard in the industrials sector (-1.2%), while asset managers, which are sensitive to higher interest rates through their impact on market levels and assets under management, also came under pressure alongside broader weakness in the financials sector (-1.2%).

Meanwhile, strength was concentrated across more defensive holdings. The health care sector (+1.1%) captured a nice gain, with its largest component Eli Lilly (LLY 1021.59, +33.50, +3.39%) rebounding nicely from yesterday's slide, while the utilities sector (+1.0%) captured a similar gain.

The real estate (+0.5%) and consumer staples (+0.4%) sectors notched more modest gains.

The energy sector (+1.0%) finished as one of the top performers as oil reversed earlier losses. The morning was relatively quiet on the geopolitical front, but reports that the U.S. and Iran remain far apart in negotiations began to trickle in later in the session. Crude oil futures settled today's session near their best levels, $0.16 lower (-0.2%) at $108.59 per barrel.

Outside of the S&P 500, the Russell 2000 (-1.0%) and S&P Mid Cap 400 (-1.0%) underperformed amid the weakness in growth stocks and upward pressure on Treasury yields.

Overall, today's session highlighted continued sensitivity to interest rates and mega-cap leadership, with defensive sectors providing stability while growth stocks and cyclicals remained under pressure. Going forward, the market remains focused on whether rising yields will continue to cap upside momentum or whether investors step in with a more meaningful buy-the-dip bid across recent market leaders.

U.S. Treasuries extended their recent losses on Tuesday, lifting yields to fresh highs for the year with the 30-year yield reaching a level not seen in almost 20 years. The 2-year note yield settled up three basis points to 4.12%, the 10-year note yield settled up four basis points to 4.67%, and the 30-year note yield settled up three basis points to 5.18%.

• Nasdaq Composite: +11.3% YTD
• Russell 2000: +10.7% YTD
• S&P Mid Cap 400: +8.0% YTD
• S&P 500: +7.4% YTD
• DJIA: +2.7% YTD

Reviewing today's data:

• Pending Home Sales rose 1.4% month-over-month in April (Briefing.com consensus 1.6%) while the March increase was revised up to 1.7% from 1.5%.

[BRIEFING.COM] The major averages are little changed from previous levels entering the final half hour of today's action.

Investors will receive earnings reports from Target (TGT 125.79, +2.39, +1.94%) and TJX (TJX 150.99, +0.74, +0.49%) before the opening tomorrow. Both stocks are trading higher today, though the SPDR Retail ETF (XRT 79.35, -0.24, -0.30%) is modestly lower. Recent inflation concerns have weighed on retail names as investors worry that consumer spending could slow, and the XRT is down 7.4% month-to-date.

[BRIEFING.COM] The S&P 500 (-0.5%), Nasdaq Composite (-0.7%), and DJIA (-0.5%) remain modestly lower as the market enters the final hour of the session.

The intraday rebound across semiconductor names briefly lifted the information technology sector (-0.5%) above its flatline, but the modest gains did not hold.

The energy sector (+1.1%) now holds one of the widest gains as oil reversed its earlier losses, with crude oil futures settling today's session just $0.16 lower (-0.2%) at $108.59 per barrel. The Wall Street Journal reported that the U.S. seized an Iranian tanker in the Indian Ocean as President Trump weighs military strikes against Iran, with a separate article noting that the two sides remain far apart on negotiations.

[BRIEFING.COM] The S&P 500 (-0.36%) is down about 27 points this afternoon, hosting the shallowest losses among the major averages.

Briefly, S&P 500 constituents Kroger (KR 70.79, +2.47, +3.62%), American Tower (AMT 183.27., +5.99, +3.38%), and Hasbro (HAS 96.22, +2.50, +2.67%) dot the top of the standings. AMT rallies after Bernstein upgraded the stock to an Outperform (from Market Perform) as they think satellite concerns overdone amid valuation opportunity.

Meanwhile, Estee Lauder (EL 79.12, -3.89, -4.86%) is today's worst laggard; the stock is poised to extend its recent losing streak to five sessions if today's losses hold, having lost circa -11.7% since the top the morning after earnings.

[BRIEFING.COM] The tech-heavy Nasdaq Composite (-0.30%) is in last place on Tuesday afternoon, down 79 points.

Gold futures settled $46.80 lower (-1.0%) at $4,511.20/oz, as Treasury yields and the U.S. dollar moved higher, reducing demand for non-yielding assets amid fading expectations for near-term Federal Reserve rate cuts. Prices were also pressured by easing geopolitical tensions after reports that the U.S. paused potential military action against Iran in favor of renewed negotiations.

Meanwhile, the U.S. Dollar Index is now +0.3% higher to $99.25.

[BRIEFING.COM] The Dow Jones Industrial Average (-0.23%) is down about 112 points this afternoon.

A look inside the DJIA shows that Amazon (AMZN 258.42, -6.44, -2.43%), 3M (MMM 149.52, -3.01, -1.97%), and Walt Disney (DIS 102.35, -1.56, -1.50%) are underperforming.

Meanwhile, Amgen (AMGN 330.75, +6.36, +1.96%) is firmly higher.

The DJIA is now +0.56% over the last two weeks.

[BRIEFING.COM] The S&P 500 (-0.2%), Nasdaq Composite (-0.4%), and DJIA (-0.2%) are lower just after midday as mega-cap weakness and rising Treasury yields pressure stocks, though the major averages are off their session lows as semiconductor stocks begin to garner some buying interest.

The information technology sector (-0.3%) holds a fraction of its previous loss, as the PHLX Semiconductor Index (+0.7%) reverses a nearly 2.0% slide. Memory names such as Micron (MU 714.97, +33.43, +4.91%) and Sandisk (SNDK 1368.52, +35.51, +2.66%) are leading the charge, while Intel (INTC 110.08, +1.91, +1.77%) also recovers from its early weakness.

The gains have come at the expense of software names, with the iShares GS Software ETF now down 0.8% after a solid early gain. Even so, the major averages are considerably improved.

The reversal in semiconductor stocks has not yet translated to momentum across mega-cap names. The Vanguard Mega Cap Growth ETF is down 0.7%, with particular weakness across Amazon (AMZN 258.02, -6.84, -2.58%), Tesla (TSLA 401.61, -8.38, -2.04%), and Alphabet (GOOG 386.88, -6.24, -1.59%), keeping the consumer discretionary (-1.5%) and communication services (-1.3%) sectors firmly lower.

The consumer discretionary sector is also pressured by its homebuilder components amid a surge in Treasury yields, with the iShares U.S. Home Construction ETF currently down 1.4%.

Rising interest rates are also contributing to pressure across building materials and construction names in the materials (-1.9%) and industrials (-0.7%) sectors.

Meanwhile, the defensive health care (+1.1%), utilities (+1.0%), and consumer staples (+0.7%) sectors outperform as mega-cap stocks slide again today.

The energy sector (+0.7%) also holds a solid gain despite a modest retreat in oil prices.

For now, today's session continues to reflect a tug-of-war between rising rates and selective dip-buying across AI-linked semiconductor names, while broader participation remains relatively defensive.

Reviewing today's data:

• Pending home sales increased 1.4% in April (Briefing.com consensus 1.6%), from an upwardly revised prior increase of 1.7% (from 1.5%)

[BRIEFING.COM] The S&P 500 (-0.5%), Nasdaq Composite (-0.9%), and DJIA (-0.3%) are modestly improved from session lows as the information technology sector (-0.7%) narrows its loss.

After holding a loss wider than 2.0%, the PHLX Semiconductor Index (+0.2%) is back above its flat line. Micron (MU 708.89, +27.35, +4.01%) is now the top-performing component of the technology sector after trading lower this morning.

Meanwhile, software stocks have largely given up their early gains, with the iShares GS Software ETF down 1.0%.

[BRIEFING.COM] The major averages remain little changed from previous values at midday.

Alphabet (GOOG 383.90, -9.21, -2.34%) and Blackstone (BX 115.46, -1.58, -1.35%) are drawing significant investor attention following the announcement of TPU Cloud, a new U.S.-based joint venture designed to commercialize GOOG's Tensor Processing Unit infrastructure at greater scale. The partnership underscores the accelerating arms race in AI infrastructure, while also highlighting how hyperscalers are increasingly turning to alternative financing structures to fund the enormous capital requirements tied to next-generation AI compute expansion.

Additionally, Google hosts its annual Google I/O developer conference today in Mountain View, California, with the main keynote beginning at 10 a.m. PT and livestreamed on YouTube and Google's website. Artificial intelligence is expected to dominate nearly every major announcement as Google attempts to reinforce its position in the increasingly competitive AI race. Investors are heavily focused on Gemini, with expectations for either Gemini 4 or a major Gemini 3.X upgrade featuring stronger reasoning, coding, multimodal, and long-context capabilities. Mizuho said a true Gemini 4 launch would help push Google "back to the bleeding edge" of frontier AI development, while another incremental update could be viewed as catch-up.

[BRIEFING.COM] The S&P 500 (-0.8%), Nasdaq Composite (-1.2%), and DJIA (-0.5%) are lower just before midday as rising Treasury yields pressure the market's largest components.

Semiconductor stocks are extending yesterday's weakness, though the PHLX Semiconductor Index (-1.6%) is well off its session lows. The broader information technology sector (-1.1%) has also recovered somewhat, supported by relative strength in software names.

The consumer discretionary sector (-2.1%) and communication services sector (-1.6%) remain near their worst levels amid continued weakness across mega-cap stocks, with the Vanguard Mega Cap Growth ETF down 1.1%.

Unlike yesterday's session, the broader market is not offsetting those losses at the index level, though the S&P 500 Equal Weighted Index (-0.5%) is still outperforming the market-weighted S&P 500 (-0.8%).

While oil prices are lower today amid quieter geopolitical headlines, Treasury yields continue to rise, pressuring rate-sensitive areas of the market. The 2-year note yield is up four basis points to 4.13%, while the 10-year note yield is up four basis points to 4.67%.

The Russell 2000 (-1.5%) and S&P Mid Cap 400 (-1.0%) are underperforming as a result.

[BRIEFING.COM] The major averages remain little changed from previous values, pinned firmly lower.

Home Depot (HD 300.22, +0.40, +0.14%) is trading modestly higher following a largely in-line Q1 earnings report and reaffirmed full-year guidance, as investors weighed resilient execution and market share gains against continued pressure in large discretionary home improvement projects. The home improvement retailer emphasized that elevated mortgage rates and weak housing turnover continue to suppress bigger-ticket renovation demand, though overall consumer engagement and Pro activity remained stable.

Home Depot's Q1 results reinforced that the company continues executing well despite a difficult housing backdrop and prolonged softness in large discretionary renovation activity. The key positive from the quarter was management's commentary that demand trends have remained stable rather than deteriorating further, while Pro demand, digital growth, and market share gains continue to support results. However, elevated mortgage rates and sluggish housing turnover remain significant headwinds for larger project activity, which likely contributed to the stock's muted reaction despite the earnings beat and reaffirmed outlook.

To that end, the iShares U.S. Home Construction ETF is down 1.7% as interest rates move higher today.

[BRIEFING.COM] The S&P 500 (-0.7%), Nasdaq Composite (-1.3%), and DJIA (-0.2%) continue to move lower. Participation has broadened from earlier levels, with six S&P 500 sectors now trading at or above their baselines. However, losses are widening in the top-weighted information technology sector (-1.8%).

Semiconductor names such as Coherent (COHR 343.01, -19.82, -5.46%) and Advanced Micro Devices (AMD 396.31, -24.68, -5.86%) are among the worst performers, sending the PHLX Semiconductor Index 2.8% lower.

Additionally, Treasuries are under pressure again this morning. The 2-year note yield is up five basis points to 4.13%, and the 10-year note yield is up six basis points to 4.68%.

[BRIEFING.COM] Stocks opened mostly lower, with weakness in the broader market and a continuation of recent pressure across semiconductors and mega-cap stocks sending the S&P 500 (-0.5%), Nasdaq Composite (-0.7%), and DJIA (-0.4%) lower.

The information technology sector (-0.4%) is modestly lower, having spent the opening half hour oscillating around its baseline. Semiconductor stocks garnered some early buying interest, sending the PHLX Semiconductor Index higher initially, though the gains did not hold and the index is now down 1.2%.

Meanwhile, software names are showing some resilience, with the iShares GS Software ETF up 1.5%

The defensive health care (+0.7%), consumer staples (+0.3%), and utilites (+0.1%), sectors hold modest gains, while the other eight S&P 500 sectors trade at or below their baselines.

The materials sector (-2.4%) holds the widest loss, facing broad pressure and particular weakness across construction names such as Vulcan Materials (VMC 258.63, -7.70, -2.89%) and Martin Marietta (MLM 536.75, -19.03, -3.42%).

The industrials sector (-0.9%) also lags, while weakness across mega-cap names pushes the consumer discretionary (-1.3%) and communication services (-0.9%) sectors lower. The Vanguard Mega Cap Growth ETF is down 0.4% as the market's leaders face an early extension of yesterday's weakness.

Just released, pending home sales increased 1.4% in April (Briefing.com consensus 1.6%), from an upwardly revised prior increase of 1.7% (from 1.5%).

The stock market remains on track for a lower opening this morning as tech names, and in particular, semiconductor stocks, move lower in the premarket. The price action of the group will come under increasing focus as NVIDIA's (NVDA 220.07, -2.25, -1.0%) earnings report looms tomorrow after the close.

Headlines are relatively muted this morning, though the market remains attuned to any geopolitical headlines that result in swings in oil prices and Treasury yields.

The S&P 500 futures currently trade 20 points below fair value. 

Equity indices in the Asia-Pacific region had mixed showing on Tuesday with South Korea's Kospi (-3.3%) deepening its retreat from a record amid concerns about a potential employee strike at Samsung. Japanese debt slid to fresh lows for the year ahead of tomorrow's 20-yr JGB auction. Meanwhile, the Bank of Japan is expected to meet with JGB investors on Thursday and Friday. Reserve Bank of Australia's chief economist warned that inflation risks are drifting higher.

• In economic data:
  • Japan's Q1 GDP 0.5% qtr/qtr (expected 0.4%; prior 0.2%); 2.1% yr/yr (expected 1.7%; last 0.8%). Q1 GDP Price Index 3.4% yr/yr (expected 3.1%; prior 3.4%), GDP External Demand 0.3% qtr/qtr (expected 0.2%; prior 0.0%), GDP Capital Expenditure 0.3% qtr/qtr (expected 0.2% prior 1.4%), GDP Private Consumption 0.3% qtr/qtr (expected 0.2%; prior 0.0%). March Industrial Production -0.4% m/m (expected -0.5%; prior -2.0%) and Capacity Utilization -1.2% m/m (prior -0.1%). March Tertiary Industry Activity Index 16.5 (expected -0.4; prior -1.1)
  • Hong Kong's April Unemployment Rate 3.7% (prior 3.7%)
  • Australia's May Westpac Consumer Sentiment 3.5% (prior -12.5%)
  • New Zealand's Q1 Input PPI 1.4% (expected 0.8%; prior -0.5%) and Output PPI 0.8% qtr/qtr (expected 0.5%; last 0.1%). April Electronic Card Retail Sales -1.3% m/m (prior 0.7%); 2.0% yr/yr (last 2.7%)

---Equity Markets---

• Japan's Nikkei: -0.5%
• Hong Kong's Hang Seng: +0.5%
• China's Shanghai Composite: +0.9%
• India's Sensex: -0.2%
• South Korea's Kospi: -3.3%
• Australia's ASX All Ordinaries: +1.1%

Major European indices trade in the green. The EU's Economic Commissioner Dombrovskis said that G-7 has made progress on critical minerals. Elsewhere, Bank of England policymaker Breeden spoke about the potential benefits of tokenization. The EU is looking at ways to counter food inflation. The U.S. Treasury extended a temporary sanction waiver on Russian seaborne oil.

• In economic data:
  • Eurozone's March trade surplus EUR7.8 bln (expected EUR5.4 bln; prior EUR11.1 bln)
  • U.K.'s March three-month employment change 148,000 (expected 107,000; prior 25,000), March Unemployment Rate 5.0% (expected 4.9%; prior 4.9%), March Average Earnings Index + Bonus 4.1% (expected 3.8%; prior 3.9%), and April Claimant Count Change 26,500 (expected 23,100; prior 4,900). Q4 Labor Productivity -0.5% (prior -0.5%)

---Equity Markets---

• STOXX Europe 600: +0.8%
• Germany's DAX: +1.5%
• U.K.'s FTSE 100: +0.6%
• France's CAC 40: +0.8%
• Italy's FTSE MIB: +0.1%
• Spain's IBEX 35: +0.4%

The S&P 500 futures currently trade 27 points below fair value.

Blackstone (BX 118.04, +1.00, +0.9%) announced a joint venture with Alphabet (GOOG 395.13, +2.02, +0.5%) to create a new U.S.-based company that will offer efficient data center capacity, operations, networking, and Google Cloud's Tensor Processing Units (TPUs) as a compute-as-a-service offering. The company will give customers another option to access cloud TPUs in addition to using them through Google Cloud.

Equity futures point to a lower opening this morning as mega-cap and tech stocks are poised for a continuation of yesterday's weakness. Losses across growth stocks pushed the major averages to a mostly lower finish in Monday's session, though the indices ended well off their worst levels. The broader market provided solid support, which helped ease some concerns surrounding the market's recent narrow leadership.

Additionally, the market received a late-session boost in the form of a Truth Social post from President Trump, in which he said the U.S. will postpone planned strikes on Iran at the request of neighboring Gulf leaders while negotiations continue. Geopolitical headlines are relatively muted this morning, and oil prices are modestly lower.

Treasuries followed last week's sharp selloff and surge in yields with a quieter session on Monday, and yields are little changed so far this morning. Still, the recent jump in oil prices and renewed inflation concerns continue to cloud the rate outlook. 

In corporate news:

• Analog Devices (ADI 413.10, -5.48, -1.3%) is nearing an agreement to acquire Empower Semiconductor, according to Bloomberg.
• Home Depot (HD 298.46, -1.36, -0.5%) beat EPS expectations by $0.02, reported revenues in-line, and reaffirmed FY27 EPS and revenue guidance.
• Intel (INTC 106.80, -1.37, -1.3%) and Qualcomm (QCOM 198.92, -4.72, -2.3%) are interested in the acquisition of Tenstorrent, according to Bloomberg.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region had mixed showing on Tuesday with South Korea's Kospi (-3.3%) deepening its retreat from a record amid concerns about a potential employee strike at Samsung. Japan's Nikkei: -0.5%, Hong Kong's Hang Seng: +0.5%, China's Shanghai Composite: +0.9%, India's Sensex: -0.2%, South Korea's Kospi: -3.3%, Australia's ASX All Ordinaries: +1.1%.

In news:

• Japanese debt slid to fresh lows for the year ahead of tomorrow's 20-yr JGB auction.
• Meanwhile, the Bank of Japan is expected to meet with JGB investors on Thursday and Friday.
• Reserve Bank of Australia's chief economist warned that inflation risks are drifting higher.

In economic data:

• Japan's Q1 GDP 0.5% qtr/qtr (expected 0.4%; prior 0.2%); 2.1% yr/yr (expected 1.7%; last 0.8%). Q1 GDP Price Index 3.4% yr/yr (expected 3.1%; prior 3.4%), GDP External Demand 0.3% qtr/qtr (expected 0.2%; prior 0.0%), GDP Capital Expenditure 0.3% qtr/qtr (expected 0.2% prior 1.4%), GDP Private Consumption 0.3% qtr/qtr (expected 0.2%; prior 0.0%). March Industrial Production -0.4% m/m (expected -0.5%; prior -2.0%) and Capacity Utilization -1.2% m/m (prior -0.1%). March Tertiary Industry Activity Index 16.5 (expected -0.4; prior -1.1)
• Hong Kong's April Unemployment Rate 3.7% (prior 3.7%)
• Australia's May Westpac Consumer Sentiment 3.5% (prior -12.5%)
• New Zealand's Q1 Input PPI 1.4% (expected 0.8%; prior -0.5%) and Output PPI 0.8% qtr/qtr (expected 0.5%; last 0.1%). April Electronic Card Retail Sales -1.3% m/m (prior 0.7%); 2.0% yr/yr (last 2.7%)

Major European indices trade in the green. STOXX Europe 600: +0.8%, Germany's DAX: +1.3%, U.K.'s FTSE 100: +0.4%, France's CAC 40: +0.5%, Italy's FTSE MIB: -0.2%, Spain's IBEX 35: +0.2%.

In news:

• The EU's Economic Commissioner Dombrovskis said that G-7 has made progress on critical minerals.
• Elsewhere, Bank of England policymaker Breeden spoke about the potential benefits of tokenization.
• The EU is looking at ways to counter food inflation.
• The U.S. Treasury extended a temporary sanction waiver on Russian seaborne oil.

In economic data:

• Eurozone's March trade surplus EUR7.8 bln (expected EUR5.4 bln; prior EUR11.1 bln)
• U.K.'s March three-month employment change 148,000 (expected 107,000; prior 25,000), March Unemployment Rate 5.0% (expected 4.9%; prior 4.9%), March Average Earnings Index + Bonus 4.1% (expected 3.8%; prior 3.9%), and April Claimant Count Change 26,500 (expected 23,100; prior 4,900). Q4 Labor Productivity -0.5% (prior -0.5%)

[BRIEFING.COM] The stock market started the week on shaky footing, with tech weakness and shifting geopolitical developments leading the S&P 500 (-0.1%), Nasdaq Composite (-0.5%), and DJIA (+0.3%) to a mostly lower finish.

Oil prices experienced volatility today in response to headlines surrounding the state of negotiations between the U.S. and Iran. Oil initially moved lower amid reports of potential sanction easing and an unconfirmed modified peace plan, but subsequent reports indicated the two sides remain far apart on negotiations.

Crude oil futures settled today's session $3.26 higher (+3.1%) at $108.75 per barrel, but oil prices moved lower late in the afternoon after President Trump wrote on Truth Social that he has called off planned military strikes against Iran "in that serious negotiations are now taking place."

The headline helped stocks move off their worst levels of the session late in the afternoon.

The information technology sector (-1.0%) still closed with the widest loss, but recovered nearly half of its previous weakness. Semiconductor stocks faced a continuation of Friday's losses, with the PHLX Semiconductor Index finishing 2.5% lower.

Seagate Tech (STX 740.50, -54.97, -6.91%) underperformed after Bloomberg reported that the company's CEO said building new factories "would take too long" when asked how Seagate plans to keep pace with surging memory demand, which weighed on other memory names.

Lumentum (LITE 884.98, -85.72, -8.83%) was the worst performer in the sector as electrical product names, which have increasingly moved in lockstep with semiconductor names, also retreated today. That weakness weighed on Vertiv (VRT 339.73, -31.21, -8.41%) and other related names, contributing to weakness in the industrials sector (-0.4%).

Losses were more modest elsewhere, with the consumer discretionary sector (-0.2%) pressured by weak leadership from Tesla (TSLA 410.06, -12.18, -2.88%), while the materials sector (-0.1%) finished just slightly lower.

Meanwhile, the broader market showed resilience despite the oil-driven volatility and tech weakness, with seven S&P 500 sectors finishing higher.

The financials sector (+1.2%) was supported by another strong showing from financial services names such as FactSet (FDS 224.35, +11.77, +5.54%), while the consumer staples sector (+1.3%) moved higher in broad fashion, and the real estate sector (+1.1%) rebounded from Friday's rate-driven weakness.

The energy sector (+1.8%) captured the widest gain amid the increase in oil prices today.

Outside of the S&P 500, the S&P Mid Cap 400 (-0.2%) finished modestly lower, while the Russell 2000 (-0.7%) lagged amid the weakness in growth stocks today.

Even with the market's recent leaders facing pressure today, the broader market helped stabilize the major averages, as highlighted by the outperformance of the S&P 500 Equal Weighted Index (+0.6%) relative to the market-weighted S&P 500 (-0.1%). With analyst commentary increasingly focused on the narrow leadership behind the market's recent record highs, today's session offered some encouragement for broader participation amid rotational buying across several sectors.

Attention will now increasingly shift toward NVIDIA's (NVDA 222.36, -2.96, -1.31%) earnings report later this week, which could play a major role in determining whether momentum across the AI trade reaccelerates.

U.S. Treasuries started the week on a quiet note, giving in to modest selling pressure that kept the market from building on its early strength. The 2-year note yield settled up one basis point to 4.09%, and the 10-year note yield settled up three basis points to 4.62%.

• Nasdaq Composite: +12.3% YTD
• Russell 2000: +11.8% YTD
• S&P Mid Cap 400: +9.0% YTD
• S&P 500: +8.1% YTD
• DJIA: +3.4% YTD

Reviewing today's data:

• The NAHB Housing Market Index rose to 37 in May (Briefing.com consensus 34) from 34 in April.