Stock Market Update

[BRIEFING.COM] The DJIA leads the major averages with a 0.9% gain, while the S&P 500 (+0.5%) and Nasdaq Composite (+0.2%) post more modest gains. 

Stocks have benefitted from initial reports that the U.S. and the EU are nearing a trade deal that will keep tariffs capped at 15%.

Only the utilities (-0.6%), communication services (-0.1%), and consumer staples (-0.1%) trade in the red, with the information technology sector (+0.1%) rebounding from early losses.

The utilities sector is the worst performer so far today, after closing with a 1.3% gain yesterday. The sector faces pressure across the majority of its constituents, with top component NextEra Energy (NEE 72.85, -4.69, -6.1%) trading lower today after the company beat EPS expectations by $0.04 but missed on revenues this morning.