Stock Market Update

[BRIEFING.COM] A strong opening to today's trade has the S&P 500 (+1.1%), Nasdaq Composite (+1.5%), and DJIA (+0.9%) reclaiming a considerable chunk of Friday's losses in the early going.

All eleven S&P 500 sectors trade in positive territory, with the communication services (+1.6%), technology (+1.6%), and utilities (+1.1%) sectors leading the rebound. 

While the early gains are broad-based, mega-cap stocks are performing particularly well. The Vanguard Mega Cap Growth ETF is up 1.5% after closing with a loss of 2.3% on Friday following pressure in Amazon (AMZN 215.41, +0.66, +0.3%) after the company reported underwhelming AWS growth and operating income guidance.

While Amazon trades in positive territory for the day, its gains are modest in comparison to its other mega-cap peers. 

Tesla (TSLA 308.53, +5.90, +2.0%), NVIDIA (NVDA 176.84, +3.12, +1.8%), Alphabet (GOOG 193.83, +3.88, +2.0%), Apple (AAPL 206.01, +3.63, +1.8%), Microsoft (MSFT 535.09, +10.98, +2.1%), and Meta Platforms (META 763.12, +13.11, +1.8%) all sport notable early gains that are underpinning the advance in the major averages. 

Just released, factory orders for June decreased 4.8% (Briefing.com consensus -5.1%) from an upwardly revised 8.3% (from 8.2%) increase in May.