Stock Market Update

[BRIEFING.COM] The major averages have bounced off of their session lows, as just the industrials (-0.3%) and energy (-0.2%) sectors remain in negative territory. 

Meanwhile, the communication services sector (+1.2%) is near the top of the standings, supported by strong leadership in both of its mega-cap components, Alphabet (GOOG 250.30, +4.11, +1.67%) and Meta Platforms (META 717.23, +8.58, +1.21%). 

Warner Bros. Discovery (WBD 18.48, +0.50, +2.81%) is the top-moving name in the sector, moving higher after The New York Post reported that Paramount Skydance (PSKY 17.32, +0.03, +0.17%) CEO David Ellison is preparing an official merger bid to acquire the company.