Major indices are fighting their way back from their lows, as the Street responds to this morning’s economic data. Commodities, such as oil and gold, are also moving higher.

The Ten-Year Treasury Yield (TNX) is up 2.8 basis points and moving back above its 200 MA.

Six out of eleven sectors are moving higher. Technology (XLK) is leading the way up, as investors rotate out of Consumer Staples (XLP) and Health care (XLV).

Notably, Magnificent Seven (MAGS) is leading the market, and the Technology sector higher. Nvidia (NVDA) and Tesla (TSLA) are the best performing stocks in the group.

The 10-year note auction saw a high yield of 4.31%, slightly lower than expectations when issued of 4.315%, indicating stable demand.