Stock Market Update

[BRIEFING.COM] The major averages continue to trade near their best levels of the session with the S&P 500 currently up 0.3%.

The market awaits more details on the trade deal that was reached with Vietnam that includes a reported 20% tariff on imported goods and a 40% tariff on transshipping, with the latter having implications on trade with China.

In the meantime, the market's reaction to the deal with Vietnam has been relatively positive, as the consumer discretionary sector (+0.8%) remains one of today's strongest performers.

Shares of NIKE (NKE 75.58, +2.17, +2.96%), which has a large exposure to Vietnam, continues to rise after a positive earnings report last week. 

Tesla (TSLA 313.86, +13.15, +4.37%) is also boosting the consumer discretionary sector, after todays sales report featured a year over year sales decline of 14% but was better than originally feared.