Stock Market Update

[BRIEFING.COM] The stock market has been rock-steady today with a bullish-minded bias. The indices are all at or near their best levels of the session on some "squeezing action" of sidelined participants motivated by a fear of missing out on further gains.

At its current level, the S&P 500 is up 22.4% from its April 7 low and sits just 3.7% below its all-time high hit on February 19. Notably, the S&P 500 tested key support at its 200-day moving average on Friday and found it, which is to say there is some technical thrust in today's gains as well.

Seeing some otherwise healthy gains all around today, with the Russell 2000, Nasdaq Composite, S&P 500, and S&P 400 all up at least 2.0%. The S&P 500 for its part is back in positive territory on a year-to-date basis (+0.6%), trailing the equal-weighted S&P 500 (+1.3%) by a slim margin.