Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%) and Nasdaq Composite (+0.7%) opened to gains due to early strength in mega-cap names, while the DJIA (-0.1%) holds a modest loss.

The information technology (+1.2%), consumer discretionary (+0.4%), and communication services (+0.5%) sectors hold decent early gains, while the other eight S&P 500 sectors trade with losses ranging from 0.4% in the financials sector to 1.1% in the real estate sector.

Breadth figures are mixed in the early going, decliners outpacing advancers by a nearly 7-to-6 margin on the NYSE while advancers hold a roughly 4-to-3 edge on the Nasdaq.

Within the technology sector, Broadcom (AVGO 350.32, +15.42, +4.61%) continues to trade higher following its earnings report last Friday, and Oracle (ORCL 239.46, +6.66, +2.86%) trades higher ahead of its earnings report tomorrow after the close. 

The PHLX Semiconductor is currently up 0.9%.