Steady as she goes, it isn’t a runaway session. All the major equity indices that serve as proxies for the overall market are in the green. Energy leads the way in the S&P 500, while Utilities lag.

Bond yields are higher, and the ten-year bond yield is at 4.16%, and above the 200-day moving average.

Breadth is positive this afternoon, and there are more new highs than new lows.

On the economic front, December wholesale sales rose 0.7%m/m, surpassing the consensus of +0.3%. Inventories gained +0.4%, surpassing last month’s decline -0.4%. Last time both sales and inventories gained was in February 2023.