Stock Market Update

[BRIEFING.COM] The major averages now trade in a relatively tight range above their session lows but considerably below opening highs. 

While the buzz over a fully priced-in September rate cut quickly faded for the broader market, certain pockets are still displaying strength following the news.

Homebuilder names are adding to solid week-to-date gains, with the iShares U.S. Home Construction ETF up 2.2% today. 

The broader consumer discretionary sector is flat after a solid opening gain, though home improvement names such as Home Depot (HD 417.94, +6.25, +1.52%) and Lowe's (LOW 268.86, +4.29, +1.62%) trade higher.