Stock Market Update

[BRIEFING.COM] The stock market's opening gains quickly propelled the S&P 500 (+0.4%) and Nasdaq Composite (+0.5%) to fresh all-time highs.

Yesterday's upward momentum following the July CPI report has carried over into the early going today, with broad-based gains propping up the major averages amid strong buying interest.

Advancers outpace decliners by a 4-to-1 margin on the NYSE and a roughly 12-to-5 margin on the NASDAQ. Nine S&P 500 sectors trade in positive territory, with only the communication services (-0.1%) and consumer staples (-0.4%) missing out on the early gains.

Meanwhile, the consumer discretionary sector (+1.1%) leads the advance with strong leadership from Tesla (TSLA 346.30, +5.46, +1.60%) and Amazon (AMZN 224.20, +2.74, +1.23%), while the health care sector (+1.1%) holds a similar gain. 

So far, there are relatively few notable headlines to distract the market from yesterday's upward momentum that followed a better-than-feared July CPI report.