Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.0%) and Nasdaq Composite (+1.6%) are back near session highs at midday, while the DJIA (+0.2%) posts a more flattish performance. 

The communication services (+1.9%) and information technology (+1.9%) sectors hold the widest gains as the market's largest names outperform. 

Alphabet (GOOG 287.60, +7.90, +2.82%) continues to outperform after announcing last week its Ironwood AI chip will become widely available in the coming weeks. 

Meanwhile, cellular providers Verizon (VZ 39.60, -0.44, -1.10%), AT&T (T 24.68, -0.15, -0.60%), and T-Mobile US (TMUS 205.15, -1.85, -0.89%) trade lower.