Stock Market Update

[BRIEFING.COM] The major averages maintain their flattish disposition as a lack of major headlines keeps the market in a sideways drift. 

The consumer discretionary sector (+0.8%) is outperforming as it benefits from strong leadership in its mega-cap names and a handful of other developments. 

Tesla (TSLA 439.00, +13.15, +3.09%) reclaims yesterday's loss and then some, approaching its record high level from December (488.54).

General Motors (GM 59.96, +1.38, +2.36%) also trades higher as UBS upgraded the stock to Buy from Neutral and increased its target price to $81 from $56. 

Elsewhere in the sector, homebuilders such as Lennar (LEN 126.12, +2.87, +2.33%) and PulteGroup (PHM 132.32, +2.27, +1.75%) see gains following a strong August New Home Sales report (800,000; Briefing.com consensus 650,000).