Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.7%) and Nasdaq Composite (+1.4%) are off to a solid start this morning as mega-cap and tech names trade higher, while weakness in the broader market keeps the DJIA (+0.2%) near its baseline. 

Alphabet (GOOG 315.89, +16.24, +5.42%) surged to a new record high amid positive reception to its Gemini 3 AI model, pushing the communication services sector (+3.3%) out to an early lead. 

Tesla (TSLA 408.06, +16.97, +4.34%) and Amazon (AMZN 225.30, +4.61, +2.09%) provide solid leadership for the consumer discretionary sector (+1.5%), and a 2.6% gain in the PHLX Semiconductor Index has the information technology sector (+0.8%) seated with a solid gain as well. 

Broadcom (AVGO 366.60, +26.40, +7.76%) and Micron (MU 222.01, +14.64, +7.06%) are among the chipmakers that are garnering some buy-the-dip interest after struggling last week, though NVIDIA (NVDA 176.93, -1.95, -1.09%) has given up its early gain. Commerce Secretary Howard Lutnick said in an interview that President Trump will decide if NVDA H200 chips can be sold to China, according to Bloomberg.

Meanwhile, five S&P 500 sectors trade lower, with losses relatively modest with the exception of the consumer staples (-1.1%) and energy (1.0%) sectors.