Wealth spreading around
The S&P 500 is up 0.7% to trade near session highs. The Russell 2000 is keeping pace with its own 0.7% gain. Declining issues are still outnumbering advancing issues at the Nasdaq but the advantage has significantly narrowed this afternoon, as the wealth in the mega-caps has spread around to other stocks. Advancing issues have overtaken declining ones at the NYSE. The influential information technology sector is up 1.0% after trading lower earlier. Looking ahead, Nike (NKE 116.50, +3.15, +2.8%) and KB Home (KBH 40.42, +1.46, +3.8%) will report earnings after the close. KBH is trading at fresh 52-week highs.