Stock Market Update

[BRIEFING.COM] There has been no real challenge from sellers today, who have been overwhelmed by the prevailing price action. The stock market started strong, enthused by lower interest rates and the pause on the onerous 50% tariff rate the president recommended on Friday, and it has remained strong.

It has certainly helped that some of its largest sectors by weight are also its best-performing sectors. The consumer discretionary sector (+2.7%) is leading the charge, followed by the information technology (+2.4%) and communication services (+2.0%) sectors.

Interestingly, those three sectors are the only sectors outperforming the market cap-weighted S&P 500 (+1.9%). There is still some decent strength in many other sectors, yet they aren't keeping pace fully with "the market."

Breadth figures denote today's broad-based buying interest. Advancers lead decliners by a better than 6-to-1 margin at the NYSE and by a better than 2-to-1 margin at the Nasdaq.