Stock Market Update

[BRIEFING.COM] The Nasdaq Composite (+2.3%), Dow Jones Industrial Average (+1.7%), and S&P 500 (+1.7%) trade at or near their morning highs in a broad advance. 

Five of the S&P 500 sectors trade higher by more than 2.0%. Mega cap leadership has propelled the consumer discretionary (+2.7%), communication services (+2.4%), and information technology (+2.1%) sectors, which house mega cap constituents, toward the top of the leaderboard. 

The financial sector is also among the top performers as earnings news from the space starts to pick up steam. Bank of America (BAC 47.13, +1.35, +2.8%) and Morgan Stanley (MS 129.78, +5.16, +4.1%) are among the names reporting earnings ahead of Thursday's open.