Stock Market Update

[BRIEFING.COM] The major averages are steadily moving higher towards session highs from just after the open.

Sector performance has broadened over the past hour, with six S&P 500 sectors now trading in positive territory, compared to just the communication services (+0.9%) and information technology sectors (+0.4%) earlier.

Outside of the mega-cap space, the energy (+0.2%), financials (+0.2%), and industrials (+0.2%) sectors hold modest gains. 

On the trade front, Bloomberg reports that the EU is proposing the removal of all tariffs on industrial goods from the U.S. and considering preferential treatment for certain agricultural and seafood products. In return, the U.S. is expected to lower tariffs on European cars and auto parts to 15% from 27.5%.