Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (+0.1%), and DJIA (flat) sit within close proximity to their baselines amid a relatively uneventful morning for the stock market. Notably, the sluggishness keeps the major averages in modestly negative week-to-date territory

The top-weighted information technology sector (+0.3%) traded up as much as 0.8% this morning before pulling back. Semiconductor stocks remain a strong point, with the PHLX Semiconductor Index up 1.3%, widening its year-to-date gain to 12.0%. Micron (MU 353.89, +17.26, +5.13%) is among the outperformers after breaking ground on a new facility today and the company director disclosing the purchase of more than $7.8 mln worth of stock.

Elsewhere, cyclical sectors are mixed, with the industrials (+0.8%) and materials (-0.8%) sectors the best and worst performing S&P 500 sectors today. 

Mixed performances across the mega-caps see the communication services (-0.6%) and consumer discretionary (-0.3%) sectors trade lower, while defensive sectors are also under pressure. 

Outside of the S&P 500, the Russell 2000 (+0.2%) and S&P Mid Cap 400 (-0.2%) are mixed, also trading near their baselines.