Stock Market Update

[BRIEFING.COM] The major indices still trade up, but market breadth reflects negative action versus a positive bias earlier. Decliners have a 4-to-3 lead over advancers at the NYSE and an 11-to-10 lead at the Nasdaq. 

Semiconductor shares have underperformed the broader market. The PHLX Semiconductor Index (SOX) shows a 1.1% decline with most components trading lower. Broadcom (AVGO 221.18, -2.54, -1.2%) is among the influential losers while NVIDIA (NVDA 131.20, +2.25, +1.8%) goes against the downside grain, benefitting from rebound action.

Losses in chipmaker components haven't translated into losses for the S&P 500 information technology sector (+0.6%) thanks to gains in its mega cap constituents.