Markets: News  

Major indices are all trending higher after the release of the minutes from the May FOMC meeting. The Nasdaq Composite is up 1.5%, the Dow Jones Industrial Average is up 0.4%, and the S&P 500 is up 1.0%. The Mega-Caps have pulled ahead of the broader market today. Looking at the Vanguard Mega-Cap Growth ETF (MGK 188.16, +2.60, +1.4%) versus the Invesco S&P 500 Equal Weight ETF (RSP 143.78, +1.49, +1.1%) we can see that the mega-caps are leading by a decent spread instead of tracking nearly 1:1 as seen earlier in the session. Separately, most S&P 500 sectors have shown improvement since the release of the minutes. Most notably, the information technology (+1.2%), consumer discretionary (+2.8%), and communication services (+0.7%) sectors sit near their best levels of the day. The lone laggards at this point are the utilities (-0.4%) and health care (-0.3%) sectors.