Stock Market Update

[BRIEFING.COM] The major indices continue to hang near their best levels of the session even though there is some active selling interest beneath the surface.

The line in to the selling interest is the advance-decline line, which is surprisingly not as imbalanced in favor of advancing stocks as one might think given the scope of today's gains. Advancers lead decliners by only a 4-to-3 margin at the NYSE and by a roughly 5-to-3 margin at the Nasdaq.

Today's buying edge, though, falls along pro-growth lines. One can see that in several ways, one of which is the outperformance of the value stocks over the growth stocks (although both, as a class, are doing quite well).

The Russell 3000 Value Index is up 2.4% versus a 2.1% gain for the Russell 3000 Growth Index.