Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%) hovers just below its rebound high, reflecting a continuation of this week's resilience to selling efforts. The benchmark index is back in positive territory for the week (+0.4%), trading just 123 points below its record high from late February.

Seven sectors continue trading in the red, but the financials sector (-1.2%) is now the only group with a loss of more than 1.0%. Meanwhile, technology (-0.6%) has recovered roughly half of its initial loss, helping the broader market climb off its morning low.

Oracle (ORCL 214.08, +14.22, +6.9%) is having another spectacular day, building on yesterday's post-earnings rally. Today, the stock has received help from an upgrade to Outperform from Market Perform with a $235 target at BMO Capital, and it is now up 22.9% for the week and up a stunning 80.0% off its April low.