Market Update – Recession Watch

10:56 a.m. The S&P 500 is trading off early highs (+1.4%) with a current 0.3% gain. Cyclical stocks are holding back the market amid lingering growth concerns, but supported by a handful of mega-caps led by Meta/Facebook (FB +12%) following its better-than-feared earnings report, Note, the futures market came way off overnight highs with growth…