Stock Market Update

[BRIEFING.COM] The Dow, Nasdaq, and S&P 500 are off their best levels of the day, but have retained the bulk of their earlier gains.

Today's trends remain intact: mega-cap stocks are outperforming; every S&P 500 sector is up except health care (-0.3%); large-cap stocks are outperforming small-cap stocks; and growth is outperforming value.

The consumer discretionary sector (+2.3%) is the biggest gainer among the S&P 500 sectors, steered by Amazon.com (AMZN 225.49, +4.82, +2.2%) and Tesla (TSLA 437.46, +23.64, +5.7%), the latter of which is getting an added boost from speculation in a Yahoo Finance report that Elon Musk could purchase TikTok.

While stocks have surged this week as market rates have come down, volatility has collapsed. The CBOE Volatility Index is down 18.1% to 16.00.