Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.9%), Nasdaq Composite (+1.1%), and DJIA (+0.7%) opened to broad-based gains, with the information technology sector (+0.9%) joining the rebound effort after lagging yesterday. 

Chipmakers are off to a strong start, with solid gains in names such as Advanced Micro Devices (AMD 228.08, +9.99, +4.58%) and First Solar (FSLR 235.72, +11.29, +5.03%) pushing the PHLX Semiconductor Index 2.4% higher. 

The major averages are also supported by strength across their mega-cap names, which also lagged yesterday. The Vanguard Mega Cap Growth ETF holds a 0.9% gain. 

Elsewhere, the utilities (+1.4%) and real estate (+1.3%) sectors are among the early outperformers. All eleven S&P 500 sectors trade higher. 

Released earlier, the October Empire State Manufacturing Survey climbed to 10.7 (Briefing.com Consensus: -1.8) from a prior reading of -8.7.