Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (-0.2%), and DJIA (+1.1%) trade near session highs as the market has largely shaken off its early mega-cap weakness. 

The information technology sector (-0.5%) is the only S&P 500 sector that remains in negative territory, which keeps the Nasdaq Composite pinned below its baseline.

Advanced Micro Devices (AMD 240.22, -3.76, -1.54%) is in the midst of its financial analyst event, and while the company has made some impressive projections about future growth for both the company and the AI business as a whole. 

CEO Lisa Su said the company expects the data center total addressable market to increase to $1 trillion by 2030, with AMD set to take a "double-digit" market share in the next three to five years. Shares of the stock spiked in response, but have since leveled off below today's flatline, as a full-blown buy-the-dip bid acrss chipmakers has yet to unfold today. The PHLX Semiconductor Index holds a 2.2% loss.