The stock market opened to mixed action. Western Alliance (WAL 34.67, +3.05, +9.7%) providing an encouraging update helped to boost sentiment, fueling buying interest in other regional bank stocks. The SPDR Regional Bank ETF (KRE) is up 2.9%.
Target’s (TGT 159.46, +2.55, +1.6%) fiscal Q1 earnings report was mixed, yet the stock trades up so far today. The S&P 500 consumer discretionary sector (+1.2%) sits atop the leaderboard thanks to its mega cap components along with a nice gain in TGT.
Most of the S&P 500 sectors trade up. Only the defensive-oriented health care (-0.8%), consumer staples (-0.4%), and utilities (-0.2%) sectors sport a loss.
Treasuries have seen an uptick in selling recently.
The 2-yr note yield is up six basis points to 4.13% and the 10-yr note yield is up one basis point to 3.55%.