Stock Market Update

[BRIEFING.COM] The stock market continues to hover just below session highs as the S&P 500 is up 0.2%.

The financials sector (+0.5%) continues to drive early gains, which are largely attributed to positive sentiment after all 22 banks that were subject to the Fed's stress test passed the exercise. Today's early strength marks some catch-up action, as the sector has underperformed the broader market in Q2. Including today's gain, the sector is up 4.8% for the quarter versus a 10.2% quarter-to-date advance in the S&P 500.

Some notable early performers include Goldman Sachs (GS 706.76, +15.95, +2.31%), Wells Fargo (WFC 80.46, +0.96, +1.21%), and JPMorgan Chase (JPM 291.30, +4.19, +1.46%)