The stock market extends its opening gains, with eight of the ten economic sectors in positive territory. Crude oil prices are unchanged at $128.89 per barrel, a substantial retreat from their session high of $132.05.
Buying interest is concentrated within the financial sector, which is benefiting from a strong 9.8% gain in shares of Bank of America
(+2.69). Outside of financials, stocks are trading near the unchanged
mark, considering healthcare (-0.2%) is the worst performing sector
with only a slight loss.
According to the Conference Board, June leading indicators fell 0.1%,
which is in-line with expectations. For the most part, the report is a
collection of previously announced economic indicators, including
jobless claims, money supply, average workweek, building permits and
stock prices. As a result, the report typically has a limited impact
on the market.