Stock Market Update

[BRIEFING.COM] The major indices moved mostly sideways near session highs over the last half hour. The S&P 500 traded above its 50-day moving average (5,944) in recent trading. 

Small and mid cap stocks are coming along for the upside ride. The Russell 2000 trades 1.5% higher and the S&P Mid Cap 400 shows a 1.3% increase. 

Market breadth reflects broad buying interest. Advancers lead decliners by a roughly 3-to-1 margin at both the NYSE and at the Nasdaq. 

Separately, Rep. Mike Johnson (R-LA) was elected Speaker of the House after two Republican holdouts switched votes to Mr. Johnson. Stocks didn't react much to the news.