Stock Market Update

[BRIEFING.COM] A technology-led opening rally boosted the S&P 500 (+0.4%) and Nasdaq Composite (+0.8%) to new record high levels, while mixed strength in the broader market keeps the DJIA (+0.1%) just above its flatline. 

The information technology sector (+0.9%) sports the widest gain of the six advancing S&P 500 sectors, with shares of Intel (INTC 31.06, +6.16, +24.76%) surging on NVIDIA's (NVDA 173.36, +3.07, +1.81%) $5 billion investment in Intel as the two companies announced a collaboration to develop AI infrastructure. 

The move has rippled throughout the semiconductor space, with the PHLX Semiconductor Index up 2.7% in the early going. 

Big tech also leads the communication services sector (+0.8%) to a healthy gain, as Alphabet (GOOG 252.60, +2.75, +1.10%) and Meta Platforms (META 786.99, +11.28, +1.45%) both trade higher. 

Just released, August leading indicators decreased 0.5% (Briefing.com consensus: -0.1%) from a prior decrease of 0.1%.