Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.8%) and Nasdaq Composite (+1.0%) are near session highs, while select pockets of weakness keep the DJIA (+0.3%) seated with a more modest gain.

The consumer discretionary sector (+0.6%) is clawing back a chunk of yesterday's loss, which left it among the worst-performing S&P 500 sectors. The sector is one of the top beneficiaries of the "yields down, oil down, stocks up" move that is unfolding this morning following yesterday's backup in yields.

Carvana (CVNA 67.09, +4.23, +6.73%), which is particularly sensitive to changes in borrowing costs, is the sector's top performer.

Meanwhile, homebuilders such as PulteGroup (PHM 127.52, +5.64, +4.63%), D.R. Horton (DHI 159.57, +7.09, +4.65%), and Lennar (LEN 90.30, +3.82, +4.41%) also outperform, contributing to a solid gain in the iShares U.S. Home Construction ETF (+4.1%).