Stocks are mostly flat to start the week following the major rebound last week. It was the first positive week since May, with all 3 major averages up at least 5.4%. Stocks are still poised to post the worst first half of the year for markets in decades.

For economic data today, durable goods orders rose 0.7% in May, outpacing expectations of 0.2%. Core capital goods orders, a close proxy for business investment, increased 0.5% for the month. Shipments of core capital goods orders increased 0.8%, matching the April gain.

Elsewhere, pending home sales unexpectedly rose 0.7% in April, ending a 6-month losing streak. Sales had been expected to fall 4% for the month. Sales were still 13.6% lower over the past year.

Treasury yields are higher this morning, with the 2-year T yield up 2.4 basis points to 3.08%, the 5-year T yield up 2.8 basis points to 3.21%, and the 10-year T yield up 4.0 basis points to 3.16%. The shortest-term advance rates are lower, while all other terms are higher.