Stock Market Update

[BRIEFING.COM] The major indices remain near session highs. The S&P 500 sports a 0.2% gain and the Nasdaq Composite trades 0.4% higher. 

Some of the heaviest sectors in the S&P 500 have led the index thus far. The communication services (+1.4%), financials (+0.4%), consumer discretionary (+0.3%), and technology (+0.3%) sectors comprise 65% of the index by market-cap.

Also, the CBOE Volatility Index (VIX) has been in a steady decline as equity indices climb, reflecting some unwinding of hedges against further downside risk. The VIX is at 17.41 today after hanging reaching 27.5 when the S&P 500 closed below its 200-day moving average two weeks ago.