Major indices started the day on a higher note before losing steam as the Street awaits more quarterly results from companies.

The move lower in stocks came alongside a tick higher in bond yield.  The 10-year is now hovering near its highs of 2024.

There is relative weakness in Industrials, and it is the worst performing sector this afternoon. Few stories happening in the sector:

• Weak results from Old Dominion Freight Line (ODFL) and Norfolk Southern (NSC)
• UBER and LYFT down on news of Robo Taxi from Tesla (TSLA)

Meta (META) is reporting after the bell today, and it is the second “Magnificent Seven” to report (TSLA was the first), bringing with it high hopes for Big Tech earnings. META is in focus after President Biden passed a bill that could lead to a potential ban on TikTok.