Markets reversed and are near session’s high as the Street awaits further information on US-China talks.

Magnificent Seven names are overall moving higher, with Tesla (TSLA) rebounding and leading the pack higher. Google (GOOG/L) is the runner up, benefiting from news OpenAI will start using Google Cloud to meet its growing needs for computing capacity.  

The only sectors in the red are Industrials (XLB) and Financials (XLF). Meanwhile, Energy (XLE) is in the lead, as oil prices rise and chances of an Iran deal diminish.

While oil has been getting a boost, natural gas futures have sunk lower this week and are approaching their 50 MA. Despite hotter summer weather forecasts, the commodity has been hit as inventories sit 4.7% above the 5-year seasonal average with production expanding 3.4% YoY.

Today, the US treasury auctioned a 3-year bond for $59 billion at a high yield of 3.97%, recording a bid-to-cover of 2.52.