Stock Market Update

[BRIEFING.COM] The stock market opened to upside action following yesterday's slide. The S&P 500 (+0.3%), Nasdaq Composite (+0.2%), Russell 2000 (+0.1%), and Dow Jones Industrial Average (+0.2%) trade higher.

Rebound action in chipmakers has contributed to the upside bias today. The PHLX Semiconductor Index (SOX) sports a 1.4% gain. NVIDIA (NVDA 120.16, +2.16, +1.8%) and Broadcom (AVGO 158.40, +2.44, +1.6%) are standout winners in the space after steep declines yesterday.

Many stocks are participating in upside moves so far. Ten of the S&P 500 sectors are higher led by real estate (+1.1%), industrials (+0.9%), and utilities (+0.7%). The health care sector (-0.1%) is alone in negative territory. 

The Leading Indicators Index dropped 0.2% in June (Briefing.com consensus -0.3%) following a 0.4% decline in May (revised from -0.5%).