Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.5%), and DJIA (+0.2%) are charting session highs just after midday, which pushes the S&P 500 and Nasdaq Composite further into fresh record territory.

Charles Schwab (SCHW 95.14, -5.13, -5.12%) is one of the worst-performing S&P 500 names today after announcing the launch of Schwab Crypto, a spot crypto trading offering that will begin a phased rollout to retail clients in the coming weeks. The platform will allow clients to trade major digital assets like Bitcoin and Ethereum directly within SCHW's ecosystem, with a flat 75 basis point fee structure, positioning it as a simple and transparent alternative to existing crypto-native platforms.

Robinhood Markets (HOOD 87.40, +0.08, +0.09%) and Coinbase Global (COIN 198.76, +2.86, +1.46%) initially moved lower in response amid disruption concerns, but both have since improved.

The financials sector is flat for the day.