Stock Market Update

[BRIEFING.COM] The stock market is in the midst of a modest rebound from yesterday's retreat, with solid performances across tech and mega-cap names helping the S&P 500 (+0.4%) and Nasdaq Composite (+0.7%) recoup a chunk of yesterday's losses. Meanwhile, the DJIA (unchanged) remains near its flatline as defensive sectors, along with the consumer discretionary sector (-0.2%), underperform. 

Mega-caps are off to a decent start following yesterday's slide, contributing to gains in the communication services (+1.4%) and information technology (+0.6%) sectors. 

Semiconductors are among the best-performing names in the technology sector, with Advanced Micro Devices (AMD 251.36, +1.30, +0.52%) reversing a loss after its beat-and-raise earnings report yesterday afternoon. NVIDIA (NVDA 202.16, +3.47, +1.75%) recovers around half of yesterday's loss, and the PHLX Semiconductor Index is up 2.6%. 

Meanwhile, the consumer staples (-0.5%), real estate (-0.3%), and consumer discretionary (-0.2%) sectors are lower. Several other sectors have spent the morning oscillating around their flatlines. 

Despite the pockets of weakness, breadth figures are still significantly improved from yesterday's levels. Advancers outpace decliners by a roughly 3-to-2 ratio on the NYSE and Nasdaq. 

The small-cap Russell 2000 (+0.8%) contributes to the outperformance as it moves higher today, while the S&P Mid Cap 400 (+0.4%) captures a more modest gain.