Stock Market Update

[BRIEFING.COM] The stock market quickly shifted this morning from risk-off to risk-on. To be fair, though, it isn't full-bore risk-on. Most sectors are higher and the major indices are higher, but the overall moves still remain relatively modest in scope.

We are seeing the influence of the mega-cap stocks on the market cap-weighted indices. The S&P 500 is up 0.4% and the Nasdaq Composite is up 0.7%, yet the equal-weighted S&P 500 is up just 0.1%.

Strikingly, there are only three sectors that are actually outperforming "the market." They are the communication services (+1.1%), consumer discretionary (+1.0%), and financials (+0.6%) sectors. Every other sector is underperforming the S&P 500 in percentage terms, including the information technology sector (+0.2%).

Meta Platforms (META 607.15, +23.09, +3.9%), Amazon.com (AMZN 198.48, +2.94, +1.5%), and NVIDIA (NVDA 117.52, +2.09, +1.8%) are the leading standouts in the mega-cap space.