Stock Market Update

[BRIEFING.COM] Stocks are off to their best start of the week, supported by broad gains amid relative stability in oil prices and Treasury yields this morning. Crude oil is up $0.50 (+0.5%) to $90.73 per barrel, though it remains below its overnight high near $92 per barrel. Similarly, the 10-year note yield is unchanged at 4.80%, off its overnight high of 4.82%.

The S&P 500 (+0.6%), Nasdaq Composite (+0.5%), and DJIA (+0.6%) sit at session highs just before midday, as do the smaller-cap Russell 2000 (+0.9%) and S&P Mid Cap 400 (+0.6%). Strength has broadened considerably since the open, with advancers outpacing decliners by a roughly 2-to-1 ratio on the NYSE and a roughly 5-to-3 margin on the Nasdaq.

Eight S&P 500 sectors trade higher, with steel and other metals names leading the materials sector (+1.6%) to the top of the sector standings. The communication services sector (+1.5%) holds a similar gain, supported by broad strength and leadership from its mega-cap components.

The Vanguard Mega Cap Growth ETF is up 0.5%, though the S&P 500 (+0.6%) and S&P 500 Equal Weighted Index (+0.5%) sport similar gains, reflecting a broader rebound effort across equities today.