Stock Market Update

[BRIEFING.COM] The major indices are back at session highs. The S&P 500 hit its 50-day moving average (5,957) earlier and trades just below that level now.

Mega cap continue to have an outsized impact on index gains, but many other names are participating in upside moves. The equal-weighted S&P 500 trades 1.1% higher. 

The Vanguard Mega Cap Growth ETF (MGK) trades 2.5% higher and the S&P 500 sectors that house mega cap constituents sit at the top of the leaderboard. The communication services (+3.0%), consumer discretionary (+2.8%), and information technology (+2.2%) sectors are the best performers along with financials (+2.6%).