Stock Market Update

[BRIEFING.COM] Equity indices are hovering near their best levels of the morning after recovering a good chunk of losses from yesterday afternoon.

The consumer discretionary sector (+1.0%) is an early leader, benefiting from some bargain hunting after a weak start to June. Even with today's strong open, the discretionary sector is up just 0.1% for the month while the S&P 500 has gained 1.7% since the end of May. Travel and entertainment stocks are among the leaders in the sector with Caesar's Entertainment (CZR 27.16, +0.71, +2.7%) and MGM Resorts (MGM 34.06, +0.49, +1.4%) trading ahead of other components.

On the downside, quick service restaurant names underperform with McDonald's (MCD 291.34, -0.97, -0.3%) on track for its lowest close since early February while Domino's Pizza (DPZ 448.52, -10.26, -2.2%) is the worst performer in the sector, returning to its 200-day moving average (448.81).