Stock Market Update

[BRIEFING.COM] The major averages are little changed from previous levels, though a slight gain in the S&P 500 (+0.1%) marks a new record high for the index.

Sector strength has eroded over the past hour, with only the utilities (+0.7%), consumer discretionary (+0.6%), and information technology (+0.5%) sitting above their baselines.

However, the gains are wide enough and concentrated among some of the market's largest names to support modest gains in the S&P 500 (+0.1%) and Nasdaq Composite (+0.5%).

Tesla (TSLA 388.80, +19.99, +5.42%) is a notable standout, with today's move all the more impressive considering the stock closed with a 6.0% gain yesterday.