Stock Market Update

[BRIEFING.COM] The broader market continues to sit in a good position as buyers show more conviction than sellers. That disposition shows up in an A-D line that favors advancers over decliners by a 4-to-1 margin at the NYSE and by a better than 2-to-1 margin at the Nasdaq.

One area sitting out today's advance is the energy sector (-0.6%). That might seem counter-intuitive given that President Trump yesterday declared a national energy emergency that will allow for increased oil and gas production. 

He repeated his directive to "drill, baby, drill" which could be the holdup for an energy market that many consider to be well supplied as it is. WTI crude prices are down 1.7% to $76.53 per barrel.

Devon Energy (DVN 36.55, -1.40, -3.7%), which engages in the exploration, development, and production of oil, gas, and natural gas liquids in the U.S., is the energy sector's biggest laggard today.