Stock Market Update

[BRIEFING.COM] The major averages trade at their best levels of the morning with nine sectors holding gains and energy (+1.2%) taking the lead by a slim margin.

The energy sector started the week on a sharply lower note as crude oil plunged amid receding fears about a broadening of the Israel-Iran conflict, but the sector is among today's leaders as crude oil builds on yesterday's bounce off a two-week low. The energy component is up $1.30, or 2.0%, at $66.22/bbl after finding support right above its 50-day moving average (63.64).

Just about every sector component trades in the green with Williams Companies (WMB 62.22, +1.52, +2.51%) extending to a fresh record high while top-weighted Exxon Mobil (XOM 109.61, +1.24, +1.14%) trades a step behind the energy sector.