Stock Market Update

[BRIEFING.COM] The stock market opened to broad-based gains and strong mega-cap leadership, helping the major averages take back a chunk of last week's losses shortly after the open. 

Sector strength has deteriorated since the open, sending the DJIA (-0.1%) to its flatline, while the S&P 500 (+0.8%) and Nasdaq Composite (+1.4%) remain higher due to outsized gains across the mega-caps today. 

Five sectors trade in positive territory, though gains are widest in the information technology (+1.7%), communication services (+1.7%), and consumer discretionary (+1.0%) sectors. 

The Vanguard Mega Cap Growth ETF (+1.6%) outperforms the broader market, while the S&P 500 Equal Weighted Index (-0.2%) notably lags the market-weighted S&P 500 (+0.7%). 

The market's early risk-on disposition has cooled some since the open, with the Russell 2000 (+0.5%) ceding over half of its early gain as a result. Meanwhile, the S&P Mid Cap 400 (-0.2%) slips into negative territory after an early gain.

For the time being, the mega-caps still hold solid enough gains to sustain an index-level advance, though they too are well off their session highs.