Stock Market Update

[BRIEFING.COM] The major averages continue to hold losses nearing the close as stocks have faced a broad-based retreat today. 

Only the energy sector (+0.7%) holds a gain for the day, as it is the only sector to spend any considerable amount of time in positive territory today. 

While the sector has outperformed this week in conjunction with a rising price of oil, crude oil futures settled today's session just $0.01 higher (+0.02%) at $65.01 per barrel. 

Today's advance has been driven by some bargain hunting in a sector that has been among this month's laggards. The energy sector has gained 3.5% this week, but it still trails the S&P 500 on the September leaderboard with a month-to-date gain of 1.3% versus a 2.2% September gain in the S&P 500.

Refiners such as Valero Energy (VLO 175.42, +4.60, +2.69%) and Marathon Petroleum (MPC 195.75, +2.65, +1.37%) have risen to their best levels since April 2024.