Stock Market Update

[BRIEFING.COM] The stock market hovers near its session highs, with the S&P 500 up 0.2%, while the NASDAQ outperforms at 0.8%.

The technology sector (+1.1%) continues to lead the way, rebounding from yesterday's losses by strong performances from NVIDIA (NVDA 156.89, +3.59, +2.34%) and Apple (AAPL 212.44, +4.62, +2.22%) while Microsoft (MSFT 492.30, +0.24, +0.05%) lags the sector amid headlines of looming layoffs. 

Chip stocks are having a substantially better day, with the PHLX Semiconductor Index rising 1.6% after closing down 0.6% yesterday. 

Today's advance in technology is driving a strong performance in mega-cap stocks as the Vanguard Mega Cap ETF up 0.6%, a stark contrast from yesterdays loss of 1.0% in a market where small and mid-cap stocks outpaced the mega-caps. 

That's not to say that smaller-caps are underperforming today either though, as the S&P Mid Cap 400 (+0.4%) and Russell 2000 (+0.7%) both outperform the broader market.