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Stocks have begun to pull back from a strong upward push that came with the open, but the broad market continues to boast a gain of more than 1%.
To little surprise, financials are leading the action. The sector has been a driving force behind broad market action all week. Today, the sector is up 1.8%, which makes it the top performing sector.
Tech stocks aren't far behind, however. The sector's 1.6% gain has been helped along by a positive response to the latest quarterly report from Dow component Cisco (CSCO 15.64, +1.91)
JPM: "downward trend in the claims data is a somewhat encouraging signal about the economy, but the recent turmoil in equity markets could adversely affect the labor market which would influence future claims reports."
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