Stock Market Update

[BRIEFING.COM] The president's update on reciprocal tariffs has been received well by the market, which saw the Dow Jones Industrial Average, S&P Midcap 400, Russell 2000, and S&P 500 break to session highs in its wake.

Market participants presumably like the idea that the implementation won't be immediate, thereby leaving room for the U.S. to negotiate better tariff terms and for this approach to possibly be better than a universal tariff, as discussed during the campaign.

The S&P 500 for its part cracked the 6,100 level while the Dow Jones Industrial Average cleared 44,700. The Nasdaq has a little more work to do but is near the top end of today's range.

All 11 S&P 500 sectors are in positive territory with gains ranging from 0.01% (utilities) to 1.5% (materials).