Stock Market Update

[BRIEFING.COM] As the session nears midday, the major averages continue their sideways drift.

The industrials sector (+0.5%) holds the widest gain, with leadership from defense contractors putting the iShares U.S. Aerospace & Defense ETF (+1.7%) on track for a fresh record close. CNBC reported that the Trump administration could take equity stakes in defense companies.

Lockheed Martin (LMT 454.18, +6.46, +1.44%) rises past its 50-day moving average (448.01) to its best level in five weeks, while Northrop Grumman (NOC 592.60, +5.86, +1.00%) captured a new record high.