Stock Market Update

[BRIEFING.COM] The major averages are maintaining their solid opening gains. 

The information technology sector (+1.5%) continues to pace today's gains, with today's advance now equal in size to yesterday's retreat. 

Broadcom (AVGO 358.12, +13.99, +4.07%) trades higher today after Evercore ISI raised the stock's target price to $403 from $342. 

Though not a member of the S&P 500, as it is a European company, ASML (ASML 1018.12, +34.94, +3.55%) moves higher after reporting its Q3 results this morning. The semiconductor equipment giant, a focal point of the ongoing AI-driven capex boom, delivered a more modest EPS beat than in previous quarters, while revenue edged up just 0.7% year-over-year to €7.52 billion, missing expectations.

Encouragingly, the midpoint of ASML's Q4 revenue outlook of €9.2-9.8 billion sits well above consensus, and management reaffirmed its FY25 revenue growth target of roughly 15%, to about €32.5 bln.