Stock Market Update

[BRIEFING.COM] The stock market is up today and we don't just mean the stock market as defined by the mega-cap cohort. To be sure, there have been many days where market breadth has been negative but the major indices are higher because the "Magnificent (insert your number here)" are higher.

Not the case today. Advancers lead decliners by a better than 2-to-1 margin at the NYSE and by a roughly 5-to-3 margin at the Nasdaq, underscoring the broad-based nature of today's advance.

There is admittedly a large-cap/mega-cap bias today. 28 of the 30 Dow components are higher; the Nasdaq 100 is up 1.6%; and the Vanguard Mega-Cap Growth ETF is up 1.4%.

The Russell 2000 for its part is up 0.5% and the S&P Midcap 400 Index is up 0.7%. Again, not bad, just not as good as the larger-cap indices.