Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.7%) and Nasdaq Composite (+1.4%) are charting session highs at midday while the DJIA (-0.1%) remains pinned just below its baseline.

The consumer staples sector (-1.8%) holds the widest loss at this juncture, with all but two of its components trading lower. Constellation Brands (STZ 130.23, -7.24, -5.27%) is sliding sharply lower again and is now down about 7% since reporting Q1 results on June 30, as investors continue to look past the company's earnings and revenue beat. The stock's continued weakness suggests investors need to see more consistent beer depletion growth and clearer evidence that pricing, market-share gains, and newer-brand momentum can translate into a durable demand recovery.