Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.7%), Nasdaq Composite (+0.9%), and DJIA (+0.7%) trade in a steady range, holding on to their solid opening gains. 

While Taiwan Semiconductor Manufacturing's (TSM 348.82, +21.71, +6.64%) stellar earnings report has acted as a catalyst for chipmakers today, several of the best performers also received brokerage upgrades this morning. 

KLA Corporation (KLAC 1560.92, +126.42, +8.81%) is the top-performing S&P 500 name today after Wells Fargo upgraded the stock to Overweight from Equal Weight with a $1600 target, while Morgan Stanley upgraded shares to Overweight from Equal Weight with a $1697 target.

Applied Materials (AMAT 325.86, +23.97, +7.94%) is not far behind, with Barclays upgrading the stock to Overweight from Equal Weight with a $250 target.