Stock Market Update

[BRIEFING.COM] The stock market continues to see steady growth as the S&P 500 (+0.7%) is now on the doorstep of its all time high (6,147) from February, while the tech-heavy NASDAQ Composite (+1.0%) outperforms. Today's session high, reached in the past hour, is 6,144.66, which was a smidgen above the record closing high of 6,144.15 reached on February 19. 

Communication services (+1.6%) is the strongest performing sector, bolstered by Meta Platforms (META 727.15, +18.47, +2.61%), which Bloomberg reports is continuing its AI investment strategy by entering talks to acquire the Generative AI company PlayAI.

Chip stocks are holding on to their gains as well, with the PHLX Semiconductor Index hovering near session highs at +0.9%, led by NVIDIA (NVDA 155.68, +1.38, +0.89%).