Stock Market Update

[BRIEFING.COM] The stock market's broad-based opening gains resulted in new record highs for the S&P 500 (+0.3%), Nasdaq Composite (flat), and DJIA (+0.5%).

Nine S&P 500 sectors trade higher, with the financials (+0.7%), real estate (+0.7%), utilities (+0.6%), information technology (+0.6%), and health care (+0.6%) sectors showing early strength.

Meanwhile, the communication services sector (-1.0%) lags as Meta Platforms (META 717.00, -10.05, -1.38%) continues to face pressure, expanding its week-to-date loss to 3.5%.

The market finally has some economic data to digest, with the final September S&P Global U.S. Services PMI increasing to 54.2 from the previous reading of 53.9.

Just released, the ISM Services PMI decreased to 50.0% in September (Briefing.com consensus 51.7%) from 52.0% in August.