Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.5%) has dipped from its session high, but it continues holding the bulk of today's gain with its 50-day moving average about 20 points below current levels.

Only six sectors sport gains at this time, but top-weighted technology (+1.4%) and consumer discretionary (+1.4%) have done some heavy lifting today, masking softness in financials (-0.3%), health care (-0.1%), and energy (-1.9%). AI/data center infrastructure names have benefited from some rebound action, which has lifted the Roundhill Neocloud ETF (NCLD 16.68, +1.30, +8.42%) off its record low. All components of the ETF trade with solid gains this afternoon, led by small caps WhiteFiber (WYFI 10.83, +1.31, +13.76%) and Boost Run (BRUN 8.20, +0.72, +9.56%), though large cap Nebius (NBIS 169.95, +16.68, +10.88%) is also among today's leaders in the group.

Broadcom's (AVGO 342.66, +13.49, +4.10%) huge $63 bln deal to provide infrastructure to Anthropic has contributed to the strength in the group, which saw several of its components hit 52-week lows just yesterday.