Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.8%), Nasdaq Composite (+1.2%), and DJIA (+0.6%) trade near session highs with an hour left in today's action. 

If the gains are maintained through the close, the major averages will trim their week-to-date losses to less than 0.5%. 

Participation remains broad, with only the consumer staples sector (-0.1%) holding a slim loss. 

The communication services sector (+1.6%) maintains its lead, though the consumer discretionary sector (+1.2%) is not far behind. Tesla (TSLA 465.47, +21.21, +4.77%) has now almost completely mitigated yesterday's 5.2% slide after spending time in negative territory this morning. 

Starbucks (SBUX 82.48, +2.88, +3.62%) is another top performer, with shares unaffected by a Bloomberg report that the Starbucks union is planning a nationwide strike on Red Cup Day to pressure the company for a contract deal.