2:00 pm : Led by ConAgra (CAG 19.30, +0.74) and Colgate-Palmolive (CL 74.29, +2.20), consumer staples stocks have climbed to a 1.3% gain. The consumer staples sector is currently putting together the best gain of any major sector in the S&P 500.

Meanwhile, the broader market is taking a breather as it pulls back a bit following a strong, upward run.

Treasuries are seeing some support after showing weakness in the early going. The benchmark 10-year Note is now up modestly after trading some 10 ticks into the red earlier.DJ30 +3.10 NASDAQ -20.92 SP500 -3.02 NASDAQ Adv/Vol/Dec 782/1.28 bln/1800 NYSE Adv/Vol/Dec 977/615 mln/2010

1:30 pm : The major indices have gone on an upward push, which has put the Dow Jones Industrial Average in positive territory and taken the S&P 500 and Nasdaq to their best levels since this morning.

The Dow's relative strength stems from gains in shares of consumer finance company American Express (AXP 23.46, +1.19), consumer staples giant Procter & Gamble (PG 52.20, +1.09), and big pharma outfit Merck (MRK 27.83, +0.82).DJ30 +14.05 NASDAQ -18.21 SP500 -1.35 NASDAQ Adv/Vol/Dec 814/1.21 bln/1752 NYSE Adv/Vol/Dec 1003/580 mln/1964

1:00 pm : The ISM Services Index reading for June has been the only major news item today. The index came in at a slightly better-than-expected 47.0, up from 44.0 the month before. Since the latest reading remains below 50, activity in the nonmanufacturing sector is contracting, but the recent pickup suggests the rate of contraction has slowed since this is the third straight month that the ISM Services Index has increased.