Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average is back in positive territory and the S&P 500 and Nasdaq Composite continue to build on gains.

Retailers continue to outperform in sympathy with Macy's (M 19.55, +1.62, +9.0%), but other names with a high exposure to discretionary spending are lagging the broader market.

Homebuilders, entertainment-related names, and cruise line shares are some of the weakest performing stocks in the S&P 500 consumer discretionary sector (+0.5%). The sector is still trading higher today thanks in part to gains in Tesla (TSLA 248.84, +2.39, +1.0%) and Amazon.com (AMZN 200.29, +2.70, +1.4%). 

The relative underperformance of some discretionary-related names follows this morning's release of the June jobs report, which reflected a softening in labor market conditions that could translate into lower earnings growth prospects.