Stock Market Update

[BRIEFING.COM] There hasn't been much up or down action at the index level in recent trading. 

Chipmakers continue to support the S&P 500 (+0.1%), information technology sector (+1.0%), and Nasdaq Composite (+0.8%) despite a Reuters report that the U.S. introduced more curbs on exports of semiconductors, specifically high-bandwidth memory chips, and semiconductor equipment to China that would be helpful in using advance AI for military applications.

The PHLX Semiconductor Index (SOX) shows a 1.8% gain with nearly every component trading higher. Intel (INTC 24.92, +0.86, +3.6%) is a standout from the space following the news that Pat Gelsinger has suddenly "retired" from the company, which will be led by interim co-CEOs until a new CEO is hired.