Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.6%) has continued edging higher after its strong open.

All eleven sectors trade higher at this juncture with the consumer discretionary sector (+2.4%) in the lead. With today's gain, the sector is now up 10.1% for May, outpacing the 5.9% month-to-date gain in the S&P 500 by a solid margin.

Just about every sector component trades higher today with heavyweights Tesla (TSLA 356.12, +16.78, +4.9%) and Amazon (AMZN 204.99, +4.00, +2.0%) contributing to the advance. Tesla is a notable stand out even though Bloomberg reported that the company's sales in Europe fell nearly 50% in April.

Travel names also outperform with Carnival (CCL 23.49, +1.24, +5.6%) and Royal Caribbean (RCL 253.83, +13.71, +5.7%) revisiting their May highs.