Stock Market Update

[BRIEFING.COM] The Nasdaq Composite (+1.1%) and S&P 500 (+0.3%) moved higher over the last half hour as mega caps build on gains.

Three of the S&P 500 sectors are higher by more than 1.0% while the remaining eight sectors show declines ranging from 0.3% to 1.7%. The communication services (+1.6%), information technology (+1.3%), and consumer discretionary (+1.0%) sectors lead the pack, reflecting mega cap leadership.

Separately, the dollar is building up strength today, leading the US Dollar Index to move 0.7% higher to 106.51. This move relates to President-elect Trump saying he would impose 100% tariffs on countries moving away from the dollar as the world's reserve currency.