Stock Market Update

[BRIEFING.COM] Entering the closing stretch of today's trading, the indices are basically sitting at their highs for the session. There has been some selling interest today, but the weight of gains in large-cap and mega-cap stocks has been a countervailing force that has made it look as if the indices have been impenetrable when it comes to selling activity.

The market-cap weighted S&P 500 is up 2.5% and the equal-weighted S&P 500 is up 2.4%. As nice as those gains are, they pale in comparison to the 5.7% gain in the Russell 2000 and the 3.9% gain in the S&P Midcap 400.

Thursday's session will feature the weekly Initial Jobless Claims Report, the Q3 Productivity Report, September Wholesale Inventories, and the September Consumer Credit Report. The main event, though, will be the FOMC decision at 2:00 p.m. ET followed by Fed Chair Powell's press conference at 2:30 p.m. ET.