Stock Market Update

[BRIEFING.COM] Recent action saw the S&P 500 (+ 0.6%) return to its opening high while the Nasdaq (+0.4%) set a fresh session high just above its morning peak.

The communication services sector (+0.2%) has been among today's laggards since the start due to weakness in Meta Platforms (META 742.66, -6.24, -0.83%), but video game names saw a recent wave of buying after The Wall Street Journal reported that Electronic Arts (EA 194.16, +25.84, +15.35%) is nearing a $50 bln deal to be taken private.

Shares of Electronic Arts have reached a fresh record in reaction to the report while Take-Two (TTWO 256.32, +11.21, +4.57%) has rallied to a new record high of its own.