Stock Market Update

[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (flat), and DJIA (-0.3%) are trading in a relatively stable range near their flat lines heading into the final hour of the session.

WTI crude settled $2.22 higher (+2.4%) at $94.68 per barrel, although that marked a sizable retreat from its earlier highs. The initial pullback in oil served as an important catalyst for today's rebound in stocks.

Breadth figures remain weaker than the mixed standings of the major averages would suggest, with decliners outpacing advancers by a nearly 2-to-1 ratio on the NYSE and a nearly 3-to-2 clip on the Nasdaq.

Meta Platforms (META 777.41, +33.31, +4.48%) continues to make an outsized contribution to the major averages, with shares reaching year-to-date highs and up 36% since the beginning of September. The rally has accelerated following the launch of Muse, whose early reception has given investors a clearer path toward monetizing META's substantial AI investments.The company's core advertising business also provides a strong foundation: Q2 revenue grew 28% year-over-year, supported by improving AI recommendations and ad targeting across its apps. Yesterday's expansion of its AI glasses lineup, including plans to bring Muse to the devices, adds another potential way to reach consumers and sustain the momentum. The stock's strength suggests investors are increasingly willing to look past the near-term pressure from heavy capital spending as evidence builds that META can turn its AI investments into both stronger ads and new products.