Major indices started the day off lower and are now mixed. There is a lack of conviction on either side of the tape after yesterday’s record high for the S&P 500.

The mixed reaction could be due to higher rates today. The Ten-Year Treasury yield (TNX) is up 5.5 basis points, but still below last week’s highs.

Oil is lower this afternoon after Trump announced he will ask Saudi Arabia and OPEC to lower the price of oil.

Industrials (XLI) is leading the way this afternoon, helped by strong performance of GE Aerospace (GE) and Union Pacific (UNP) reported encouraging earnings results and guidance. Technology (XLK) is the laggard reflecting the underperformance of some mega-cap constituents, that is also contributing to Nasdaq’s performance.

The Fear & Greed index moved from Fear to Neutral territory.