Stock Market Update

[BRIEFING.COM] The stock market continues to trade with a dual measure of relief and confidence that has the S&P 500 on the brink of revisiting its all-time high of 6,147.43.

Today's move has bull market action written all over it. The participation is broad-based, value and growth stocks are both trading higher, and high-beta stocks are outperforming. The move is also being supported by a drop in interest rates and a fear of missing out on further gains that is squeezing sidelined investors sitting on cash back into the market.

The mega-cap stocks, as a cohort, continue to shine. The Vanguard Mega Cap Growth Index Fund (MGK 358.15, +5.36, +1.52%) is up 1.5% versus a 1.2% gain for the market cap-weighted S&P 500 and a 1.0% gain for the equal-weighted S&P 500.

The CBOE Volatility Index is down 12.0% to 17.45.