Stock Market Update

[BRIEFING.COM] The major indices started today on a weak note, but that weakness was not allowed to persist. A broader rebound effort picked up steam with the release of the May ISM Manufacturing PMI at 10:00 a.m. ET.

Notably, stocks steadily advanced to session highs as Treasuries moved to session lows, suggesting perhaps that there may have been some asset reallocation in play.

There may have also been some short-covering activity, as the stock market's resilience once again in the face of some seemingly concerning headlines fueled some added buying interest among sidelined investors fearful about missing out on further gains.

From its low today to its current session high, the market cap-weighted S&P 500 has advanced 1.3%, with mega-cap stocks pacing that move.