Stock Market Update

[BRIEFING.COM] The major averages are trying to hang onto a portion of their early gains after a retreat from morning highs. The S&P 500 (+0.3%) trades a bit behind the Nasdaq (+0.6%), which continues to benefit from relative strength in some large cap tech names.

Five sectors trade higher at this time with the consumer discretionary sector (+0.4%) staying a bit ahead of the broader market after a poor start to the week. The sector has trimmed this week's loss to 1.5% versus a 0.6% week-to-date dip in the S&P 500. Top component Amazon (AMZN 222.37, +3.01, +1.37%) has contributed to the outperformance, tagging its best level since late February before narrowing its gain, while Tesla (TSLA 294.90, -2.91, -0.98%) lags.

Homebuilders are among the best performers in the sector as Treasury yields dip after rising for five days in a row. The iShares U.S. Home Construction ETF (ITB 97.42, +1.66, +1.74%) has climbed to a one-week high, seeking its best close early March.