Stock Market Update

[BRIEFING.COM] The major indices opened on a higher note, building on last week's rebound effort that saw the S&P 500 gain 4.6%. Early leadership came from the financial, materials, industrials, and consumer discretionary sectors, so there was a pro-cyclical bent to things.

There was also some speculative flair to the opening gains, which featured the outperformance of micro-cap and high-beta stocks as well.

The mega-cap stocks were also in on the opening move but have lost some of that opening zest, which has been a drag on the market cap-weighted indices. The equal-weighted S&P 500 is up 0.4%.