Stock Market Update

[BRIEFING.COM] The stock market has seen a continuation of yesterday's strength, though the market has advanced in a more orderly fashion this morning. 

The S&P 500 (+0.7%), Nasdaq Composite (+1.0%), and DJIA (+0.8%) hold similar gains amid broad strength. Seven S&P 500 sectors trade higher, and losses are contained to 0.3% or narrower. 

Mega-cap stocks, which were among the first to show weakness during yesterday's intraday slide, are posting solid gains today. As a result, the communication services (+1.6%), consumer discretionary (+1.1%), and information technology (+0.9%) sectors dot the top of today's leaderboard. Meta Platforms (META 636.79, +23.83, +3.89%) is an early standout, though all of the "magnificent seven" names trade higher. 

Outside of the S&P 500, the Russell 2000 (+1.3%) looks to outperform the major averages once again, while the S&P Mid Cap 400 (+0.5%) holds a more modest gain. 

After a volatile rally yesterday, the market has settled into a more measured tone as geopolitical tensions between the U.S. and Europe temporarily subside. Adding to the calmer backdrop, the delayed release of the November Personal Income and Spending report was largely in line with expectations. The core PCE Price Index, the Fed's preferred inflation gauge, was unchanged at 2.8% in November and is not expected to influence the Fed's outlook.

The CBOE Volatility Index is down 7.0% to 15.71.