Stock Market Update

[BRIEFING.COM] The major averages are holding steady near their session highs.

Today's advance comes on increasing sector strength and nearly even breadth figures. Advancers outpace decliners by a nearly 7-to-6 ratio on the NYSE, with decliners holding the edge on the NASDAQ by a roughly 11-to-8 ratio. 

The health care sector (-1.0%) is the top laggard today as it faces losses in the majority of its components. It is the only S&P 500 sector with a loss greater than 0.5%. 

Amgen (AMGN 284.96, -15.12, -5.0%) faces some "sell the news" pressure as it trades lower today despite beating EPS expectations by $0.74 and raising FY25 guidance. 

Barring a nice gain in Vertex Pharma (VRTX 388.63, +13.65, +3.6%), biotech stocks trade mostly lower today, with the iShares Biotechnology ETF posting a loss of 1.5%.