Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (+0.2%), and DJIA (-0.2%) sit mixed shortly after the open as semiconductor names once again do the heavy lifting while the broader market trades mostly lower. 

The top-weighted information technology sector (+0.6%) is one of just two sectors that trade firmly higher, though the gain is wide enough to prompt some growth at the index level. 

Micron (MU 363.05, +26.42, +7.85%) is sharply higher this morning after announcing the company will officially break ground today on a $100 billion memory manufacturing complex in Onondaga County, New York.

The PHLX Semiconductor Index is up 1.8%, and NVIDIA (NVDA 190.04, +2.99, +1.60%) is once again one of the best-performing mega-cap names. 

Elsewhere, the industrials sector (+0.3%) holds a decent gain as its engineering and construction names trend higher. 

The materials sector (-0.9%) is an early laggard, while the defensive utilities (-0.8%), consumer staples (-0.6%), and health care (-0.5%) sectors also trade lower. The other five S&P 500 sectors trade within 0.2% of their unchanged levels. 

Just released, the January NAHB Housing Market Index registered at 37 (Briefing.com consensus 40) from a prior level of 39.