Stock Market Update

[BRIEFING.COM] The broader market is mixed this Monday morning, with the S&P 500 (+0.3%) and Nasdaq Composite (+0.5%) benefitting from an early chipmaker rally while the DJIA (-0.2%) remains pinned beneath its flatline. 

The announcement of a partnership between Advanced Micro Devices (AMD 209.52, +44.85, +27.23%) and OpenAI sent the stock surging in the pre-market, with the PHLX Semiconductor Index advancing 3.9% so far today. 

As a result, the information technology sector (+0.7%) holds the widest gains of the seven advancing S&P 500 sectors, despite its largest component (and AMD competitor), NVIDIA (NVDA 185.76, -1.86, -0.99%), trading lower.

As a whole, the mega-cap group is still benefitting the market at the index level, with the Vanguard Mega Cap Growth ETF up 0.6% today. Tesla (TSLA 444.58, +14.75, +3.43%) is a notable standout, moving higher after teasing an event tomorrow on social media.

Advancers outpace decliners by a slim 13-to-12 ratio on the NYSE and a roughly 3-to-2 clip on the Nasdaq.

Outside of the S&P 500, the small-cap Russell 2000 (+0.8%) and S&P Mid Cap 400 (+0.3%) both hold decent gains.