Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%) holds a modest loss after climbing off its early low, but nine sectors remain in negative territory, including top-weighted technology (-0.5%).

A weak showing from top component Apple (AAPL 207.47, -3.79, -1.8%) is contributing to the sector's underperformance, but high-beta chipmakers also trade mostly lower, keeping the PHLX Semiconductor Index (-1.0%) well behind the broader market. That is despite some outperformance in industry giant NVIDIA (NVDA 134.98, -0.42, -0.3%) after the company's CEO spoke at Computex, announcing an updated product aimed at accelerating data transfer rates between chips.

Even with today's loss, the PHLX Semiconductor Index is still outpacing the market's May performance, having gained 15.2% this month versus a 6.7% month-to-date advance in the S&P 500.