Stock Market Update

[BRIEFING.COM] The major averages have extended to fresh highs with small caps showing relative strength. The Russell 2000 (+1.2%) is up more than 1.0% while the Nasdaq (+0.8%) and S&P 500 (+0.4%) remain a bit behind. With these gains, the three indices are now approaching their best levels from May. This leaves the S&P 500 just 3.0% below its record high from mid-February.

Technology (+1.3%) and energy (+1.4%) are maintaining their early lead while the downside has been limited. Real estate (-0.9%) and consumer staples (-0.8%) are at the bottom of today's leaderboard, but the two lightly-weighted sectors have not gotten in the way of today's bounce off opening lows.

Treasuries have dipped from their highs with the 10-yr yield now down just one basis point at 4.45% after marking a session low at 4.41%.