Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (flat), and DJIA (+0.4%) sit near their best levels of the session as the information technology sector (-0.5%) continues to steadily improve. 

Microsoft (MSFT 482.02, -7.98, -1.63%) has pared some of its early losses after CNBC reported that a spokesperson for the company has denied a report from The Information that the company is lowering its software sales quotas. The Information has changed their headline from "Microsoft is lowering AI software sales quotas" to "Microsoft is lowering AI software growth targets."

Elsewhere in the tech realm, Marvell (MRVL 96.95, +4.06, +4.37%) shares are surging despite Q3 (Oct) results and Q4 (Jan) guidance that were largely in line with expectations. Investor enthusiasm is being driven by exceptional Data Center performance, bullish long-term AI commentary, and the announcement that Marvell will acquire Celestial AI, a pioneer in disruptive Photonic Fabric optical interconnect technology.

Marvell's near-term numbers were fine, but this story is all about the acceleration in AI infrastructure spending and Marvell's strategic positioning to capture it. The Celestial AI deal reinforces Marvell's identity not just as a semiconductor company but as a core enabler of AI-scale interconnects, an area already contributing half of its Data Center revenue and now entering a generational technology shift from copper to optical.

Meanwhile, CrowdStrike (CRWD) delivered another impressive beat-and-raise quarter in 3Q26, but the stock's reaction is being tempered by an already stretched valuation and only modest upside in 4Q guidance. With shares up over 20% since the 2Q earnings release and trading at roughly 104x 1-year forward EPS, the bar was simply much higher this time. Such a rich multiple leaves little room for any perceived deceleration or even "just fine" guidance, helping explain the muted reaction in the stock