Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.4%) trades just below its rebound high with just one sector down more than 0.7% at this juncture.

The financials sector (-0.3%) was among today's outperformers before finding some recent weakness. Top component JPMorgan Chase (JPM 264.06, -3.50, -1.3%) is largely responsible for the recent pressure, sliding as the firm presents at its investors day. In a slide deck released earlier, the bank raised its forecast for FY25 net interest income to $94.5 bln from $94.0 bln but that upward revision is being offset by some cautious comments regarding the overall outlook.

Elsewhere in the sector, payment processors Visa (V 367.31, +2.19, +0.6%) and Mastercard (MA 584.90, +1.62, +0.3%) have extended to fresh records.