Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.4%) eclipsed its previous all-time high level from February (6,147) in the opening hour of today's session, with the index currently trading at 6,174.

The market is seeing a continuation of yesterday's broad-based participation trend as ten sectors open in positive territory, led by consumer discretionary (+1.2%), communication services (+0.7%), and real estate (+0.6%). The early gains in the consumer discretionary sector are underpinned by a strong opening from Amazon (AMZN 221.07, +3.95, +1.82%), which was upgraded to Outperform by BNP Paribas Exane, and post-earnings strength in NIKE (NKE 71.54, +9.00, +14.39%). 

Energy lags (-0.4%) in early trade despite an uptick in the price of crude.

Just released, the Michigan Consumer Sentiment Index rose to 60.7 (Briefing.com consensus 60.5) in the final reading for June from 60.5 in the preliminary reading.