Stock Market Update

[BRIEFING.COM] The major averages have eased from their earlier levels, but the session's buy-the-dip character remains intact. Demand continues to favor many of last week's biggest losers, particularly high-beta stocks, mega-cap growth names, and semiconductor stocks.

The VanEck Semiconductor ETF (SMH 543.45, +16.25, +3.08%) is up 3.1%, while the Invesco S&P 500 High Beta ETF (SPHB 138.86, +2.86, +2.10%) is up 2.1% and the Vanguard Morningstar Mega Cap Growth Index Fund (MGK 89.70, +0.92, +1.04%) is up 1.0%. Those moves contrast with a flat reading for the Invesco S&P 500 Low Volatility ETF (SPLV 75.42, +0.01, +0.01%) and a more modest 0.3% increase in the Russell 3000 Value Index, showing that investors are favoring growth and higher market sensitivity over defensive exposure.

Tody's weakest sectors include the S&P 500 communication services (-1.1%), consumer staples (-0.4%), health care (-0.3%), and utilities (-0.1%) sectors.

Advancers lead decliners by a roughly 5-to-4 margin at the NYSE and by a 13-to-10 margin at the Nasdaq.