Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.6%), and DJIA (+0.3%) have modestly improved from their opening gains on tech leadership and broad strength. 

Ten S&P 500 sectors trade higher, led by the information technology (+0.9%) and communication services (+0.9%) sectors. Both sectors benefit from Salesforce (CRM 246.66, +10.08, +4.26%) and Alphabet (GOOG 255.81, +4.10, +1.63%) announcing an expansion of their strategic partnership. Additionally, Salesforce raised its growth outlook through 2030 at its Investor Day event today. 

The technology sector is also supported by strong leadership in chipmaker names after Taiwan Semiconductor Manufacturing Company Limited (TSM 303.28, -1.42, -0.47%) reported strong AI demand in its Q3 earnings report, pushing the PHLX Semiconductor Index 1.5% higher. 

Only the financials sector (-0.8%), which faces pressure in its insurance broker names, currently holds a loss. 

Despite the broad sector strength, breadth is mixed, with advancers outpacing decliners by a slim 13-to-12 clip on the NYSE, while decliners hold an advantage by a few dozen names on the Nasdaq.

The market-weighted S&P 500 (+0.4%) also outperforms the S&P 500 Equal Weighted Index (flat), suggesting that any dip across the market's largest names could threaten the major averages' gains for the day.