Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.0%), Nasdaq Composite (+1.4%), and DJIA (+0.7%) are off to a strong start, reclaiming the bulk of yesterday's losses in short order as mega-cap tech names rebound sharply against a backdrop of broad participation. 

Micron (MU 260.00, +34.48, +15.29%) has restored some enthusiasm to the AI trade this morning after a stellar beat-and-raise earnings report, pushing the PHLX Semiconductor Index 3.5% higher. 

Most large tech names across the information technology (+0.9%), communication services (+1.1%), and consumer discretionary (+1.6%) sectors are higher this morning, suggesting some buy-the-dip interest in the wake of yesterday's weakness. 

Gains are not just limited to the market's largest names, as eight S&P 500 sectors currently trade higher. The market received a nice boost before the open from the delayed release of the November CPI report (0.2% for the two-month period of September to November; Briefing.com consensus: 0.3%), which showed both CPI and Core CPI increasing at a slower than expected pace year-over-year.