Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%) and Nasdaq Composite (+0.1%) have extended yesterday's gains, albeit with modest moves higher. The ongoing buying interest stems from an understanding that equities were oversold on a short-term basis.

There's also some technical moves in play after the S&P 500 closed above its 200-day moving average for the first time in two weeks.

Conviction in lacking on either side of the tape, though, leading the Dow Jones Industrial Average (-0.1%) to trade slightly lower.

Just in, the consumer confidence index fell to 92.9 in March (Briefing.com consensus 94.2).

New home sales totaled 676,000 in February (Briefing.com consensus 680,000).