Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.4%), Nasdaq Composite (+1.9%), and DJIA (+1.0%) have opened to nice gains amid broad strength, reclaiming roughly half of Friday's losses. 

President Trump soothed concerns around escalating trade tensions with China, posting on Truth Social yesterday that "all will be fine" after previously threatening a 100% tariff rate. 

The information technology sector (+2.5%), and in particular, chipmakers are leading the rebound after facing the steepest losses on Friday. Broadcom (AVGO 355.28, +30.65, +9.44%) is the early standout, trading sharply higher after announcing a partnership with OpenAI that will seek to develop 10 gigawatts of custom AI accelerators. 

NVIDIA (NVDA 189.43, +6.27, +3.42%) also holds a nice early gain, contributing to a 4.5% advance in the PHLX Semiconductor Index. 

Strength across other mega-cap names seats the consumer discretionary (+1.4%) and communication services (+1.3%) sectors with gains wider than 1.0%.

Only the consumer staples sector (-0.4%), which captured a modest gain amid Friday's retreat, trades lower.