Mega caps lag in the first half hour
The major indices opened on a mostly flat note. The Nasdaq has an early edge over the other main indices. The mega caps are a downside driver with Tesla (TSLA 682.94, -16.77, -2.4%) and Meta Platforms (META 165.88, -2.09, -1.3%) as the biggest laggards. Apple (AAPL 141.83, +0.25, +0.2%) and Microsoft (MSFT 263.36, +0.62, +0.3%) are outperforming thus far. The former is up despite having its price target cut to $130 from $157 at Goldman while the latter is up despite an investigation by the UK CMA into Microsoft's anticipated acquisition of Activision Blizzard.Treasury yields have lifted off their lows of the morning. The 2-yr note yield is up two basis points to 2.84% while the 10-yr note yield is down one basis point to 2.80%.Earlier, the June IHS Markit Services PMI was 52.7 versus the prior reading of 51.6. Just in, the June ISM Non-Manufacturing Index was 55.3% (Briefing.com consensus 54.2%) versus a prior reading of 55.9% and the May JOLTS-Job Openings totaled 11.254 million versus a prior revised total of 11.681 million (from 11.400 million).