Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.0%), Nasdaq Composite (+1.2%), and DJIA (+1.2%) now hold gains over 2.0% for the week. 

Today's advance has been supported by strong leadership from the information technology sector (+1.6%). 

Advanced Micro Devices (AMD 249.95, +14.96, +6.37%) is the top mover in the sector, trading higher after Reuters reported that IBM (IBM 306.70, +21.70, +7.61%) now believes that AMD processors can effectively run a critical quantum computing error correction algorithm.

NVIDIA (NVDA 185.26, +3.10, +1.70%) is also among the chipmaker names that push the PHLX Semiconductor Index to a 2.0% gain. 

Meanwhile, a strong showing from software names lifts the iShares Expanded Tech-Software Sector ETF (IGV 116.31, +1.52, +1.32%) toward its record high from mid-September (117.99).