Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%) and Nasdaq Composite (+0.5%) trade near their highs of the morning while the Dow Jones Industrial Average trades 0.3% lower.

Tesla (TSLA 346.70, +25.99, +8.1%) has added to its huge gain in the wake of the election, trading another 8% higher on a Bloomberg report that the Trump administration wants to ease regulations on self-driving cars. Shares are 37.8% higher compared to November 5. This move, along with a gain in Amazon.com (AMZN 203.85, +1.23, +0.6%), has boosted the S&P 500 consumer discretionary sector (+1.6%).

Other mega cap names have moved higher over the last half hour, propelling the S&P 500 and Nasdaq Composite to trade in positive territory. Apple (AAPL 227.89, +2.89, +1.3%) and Alphabet (GOOG 174.67, +0.78, +0.4%) are among the winning standouts from the space.