Market climbs towards highs of the day
The stock market climbed well off session lows recently, trading at or near session highs currently. The S&P 500 consumer discretionary sector is trailing the broader market, down 1.6% versus a 0.9% loss in the S&P 500. Most components trade down with Carnival Corp (CCL 7.26, -0.50, -6.4%) and Tesla (TSLA 236.06, -13.38, -5.4%) showing the biggest losses. Ford (F 12.31, -0.05, -0.4%) has a modest loss despite being upgraded to Overweight from Equal-Weight at Morgan Stanley.Autozone (AZO 2242, +36.97, +1.9%) leads the outperformers for the sector after authorizing an additional $2.5 billion for share repurchases.