Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%) remains just above its unchanged level.

The top-weighted technology sector (+0.2%) trades essentially in line with the broader market while chipmakers display relative strength. The PHLX Semiconductor Index (+1.1%) is extending this week's gain to 5.5% with support from nearly all components after onsemi (ON 50.32, +2.95, +6.2%) expressed some optimism at a conference late yesterday.

In addition, sector heavyweight Broadcom (AVGO 259.72, +2.87, +1.1%) is rallying to a fresh record high ahead of its quarterly report, which will be released after tomorrow's closing bell.

Treasuries remain near their highs with the 10-yr yield down nine basis points at 4.37%.