Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.5%), Nasdaq Composite (-0.2%), and DJIA (-0.6%) are off their session lows but still firmly beneath their opening levels.

Smaller-cap indices are outperforming today, as firming rate cut expectations provide an increased benefit to domestically focused companies that are more sensitive to borrowing costs. Unlike their larger-cap counterparts, these names have so far avoided the same “sell the news” pressure, allowing the Russell 2000 (+0.2%) and S&P Mid Cap 400 (+0.3%) to advance today.

The S&P Mid Cap 400 currently holds a 1.1% week-to-date gain, which is higher than that of the major averages.