Stock Market Update

[BRIEFING.COM] The major indices continue move up in a relief-rally that has stocks well off their April 7 lows. Positive responses to better-than-expected earnings from Microsoft (MSFT) and Meta Platforms (META) have provided support for ongoing buying interest in the broader equity market.

Microsoft and Meta Platforms have boosted their respective S&P 500 sectors. The technology sector leads the pack, trading 2.7% higher, and the communication services sector shows a 1.2% gain.

On the flip side, the health care (-1.5%), consumer staples (-0.3%), and materials (-0.3%) sectors show the largest declines. 

The ISM Manufacturing Index declined to 48.7% in April (Briefing.com consensus 47.9%) from 49.0%. 

Construction spending fell 0.5% in March (Briefing.com consensus 0.3%).