Stock Market Update

[BRIEFING.COM] Today's early action is reminiscent of what was witnessed at this point yesterday. The Russell 2000 (+0.9%) and high-beta stocks are frontrunners in an environment that still isn't featuring any strong inclination to sell stocks.

There is some fear of missing out on another leg higher that could be driven by positive trade developments. There is a risk, of course, that the U.S.-China trade talks in London don't end in the positive way market participants are imagining, but with the S&P 500 sitting just about 2% below its all-time high, it is fair to say that the market is taking the under on that proposition.

The communication services sector (+0.9%) is in a lead position today, bolstered by the move in Alphabet (GOOG 181.00, +3.37, +1.90%) following a Reuters report that OpenAI has reduced its dependence on Microsoft (MSFT 469.57, -3.18, -0.67%) with a Google cloud deal.

The energy sector (+1.9%), though, leads all sectors at this juncture, with WTI crude futures ($65.77, +0.48, +0.8%) hitting their highest levels since early April.