Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+0.8%), and DJIA (+0.8%) trade at session highs near the end of today's action.

Though not among the top-performing S&P 500 sectors, the information technology sector's (+0.3%) climb into positive territory was pivotal in reversing the major average's downward course this morning.

While NVIDIA (NVDA 170.94, +0.32, +0.19%) continues to trade below its 50-day moving average (172.05), chipmakers have put together a solid performance, pushing the PHLX Semiconductor Index to a 1.3% gain. 

Market focus now turns to Broadcom's (AVGO 306.28, +3.90, +1.29%) earnings report after the close today. While the company hasn't missed EPS in five years, last quarter's modest beat marked a deceleration. Tonight's report needs to deliver upside and confident Q4 guidance to sustain momentum, as the stock is up 35% since April lows.