Stock Market Update

[BRIEFING.COM] Healthy gains in the consumer discretionary (+0.9%), energy (+0.9%), and information technology (+0.5%) sectors are maintaining modest gains in the major averages, though the other eight sectors face selling pressure and trade in negative territory.

The consumer discretionary sector now challenges the energy sector as the day's best performer so far.

Solid leadership comes from Amazon (AMZN 234.09, +2.65, +1.2%) ahead of the company's earnings report Thursday after the close.

Shares of Tesla (TSLA 325.68, +9.62, +3.0%) also continue to tick higher after cautious guidance in the company's earnings report saw shares slide 8.2% on Thursday. The company has since recovered nearly all of Thursday's losses after a strong performance Friday and a good start to today's trade. 

NIKE (NKE 79.18, +2.91, +3.8%) is the top advancer in the sector at this juncture, boosted by an upgrade to Overweight from Neutral at JPMorgan. The move underscores the growing belief that Nike's "Win Now" turnaround strategy is gaining solid traction as the company emerges from its deepest slump in years. Shares are jumping sharply higher on this analyst action, reflecting market enthusiasm for the company's strategic pivot and renewed growth potential.