Stock Market Update

[BRIEFING.COM] The major averages continue to trade in a stable range early in the afternoon.

The financials sector (+2.6%) is one of today's top-performing S&P 500 sectors, supported by broad strength and solid leadership from asset manager names such as Blackstone (BX 118.78, +8.50, +7.71%) and Ares Management (ARES 130.83, +7.73, +6.28%). The group moved lower yesterday amid fresh concerns of heightened withdrawals from top funds, but has rebounded nicely today.

Elsewhere in the sector, major banking names are posting solid gains, with Goldman Sachs (GS 1091.62, +50.60, +4.86%) among the top-performing Dow components.