Stock Market Update

[BRIEFING.COM] The tables have turned a bit relative to yesterday. Small-cap stocks, as viewed through the Russell 2000 (-0.4%), and mid-cap stocks, as viewed through the S&P Midcap 400 Index (-0.2%), are trailing today in a market that is being driven by mega-cap leadership.

Hence, the Nasdaq Composite (+1.3%) is looking pretty sturdy at this time despite market internals showing negative breadth readings. Decliners lead advancers by an 8-to-5 margin at the NYSE and by a roughly 11-to-9 margin at the Nasdaq.

NVIDIA (NVDA 146.35, +5.52, +3.9%), which is the largest stock in the U.S. by market capitalization, is an influential mover that has an extended reach into the Philadelphia Semiconductor Index (+2.0%).

Today's outperformance is an offshoot of the excitement surrounding yesterday's announcement of a $500 billion AI infrastructure initiative involving OpenAI, Softbank, and Oracle (ORCL 184.79, +12.22, +7.1%). Including today's gain, Oracle is up 14.8% since Friday's close.