Stock Market Update

[BRIEFING.COM] A relatively strong opening for the stock market has the major averages recouping some of yesterday's losses, though the S&P 500 (+0.1%) and Nasdaq Composite (+0.2%) still have some ground to cover to eclipse yesterday morning's record highs.

The utilities sector (+0.9%) continues its strong performance this week, while the health care (+0.4%), information technology (+0.3%), financials (+0.3%), and communication services (+0.1%) sectors also capture modest gains.

The communication services sector trades flat, while the energy (-0.8%), materials (-0.6%), industrials (-0.4%), consumer discretionary (-0.2%), and real estate (-0.1%) sectors trade in negative territory. 

Just released, pending home sales for June decreased 0.8% (Briefing.com consensus 0.4%) from a prior increase of 1.8% in May.