Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%) trades within five points of its all-time high (6,481.34), though the index is facing resistance and now trades in a tight range beneath the record level.

The information technology sector (+0.2%) trades at its best levels of the day as software stocks move higher following MongoDB's (MDB 283.54, +69.20, +32.29%) rally after an impressive beat-and-raise earnings report yesterday afternoon. 

ServiceNow (NOW 882.46, +17.80, +2.06%), Datadog (DDOG 128.55, +2.24, +1.77%), and CrowdStrike (CRWD 424.63, +7.03, +1.68%) are among the packaged software names underpinning gains in the sector.

Meanwhile, semiconductor names are a point of relative weakness, with the PHLX Semiconductor Index down 0.2% today. However, NVIDIA (NVDA 182.27, +0.50, +0.28%) moves back into positive territory ahead of its earnings report this afternoon.