Stock Market Update

[BRIEFING.COM] Equity indices have extended to fresh session highs after a bumpy start. The Nasdaq (+0.7%) outperforms thanks to relative strength in technology stocks.

Chipmakers have contributed to the outperformance in technology with the PHLX Semiconductor Index (+1.1%) extending this week's gain to 7.0%. Broadcom (AVGO 263.68, +2.60, +1.0%) is seeing a continuation of this week's outperformance ahead of tonight's release of its quarterly results. Including today's gain, the stock is already up 8.8% for the week.

Treasuries have continued pulling back with the 10-yr yield now up two basis points at 4.39% after starting the day at 4.32%.