Stock Market Update

[BRIEFING.COM] Equity indices are hanging onto today's gains, looking to end the week at record levels after an impressive show of strength in June.

Just about every sector trades in positive territory with six outpacing the 0.7% gain in the S&P 500. The industrials sector (+1.4%) took the lead in recent trade, benefiting from a strong showing in defense stocks, which is sending the iShares U.S. Aerospace & Defense ETF (ITA 188.20, +3.70, +2.01%) to a fresh record high. Transport stocks are also playing a part in the sector's strength as the Dow Jones Transportation Average (+1.3%) rises to its best level since early March.

Longer-dated Treasuries have climbed past their morning highs in recent trade with the 10-yr yield now down one basis point at 4.25% while the short end remains slightly lower for the day with the 2-yr yield up one basis point at 3.73%.