Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.8%), and DJIA (+0.1%) are modestly higher shortly after the open. 

Crude oil is down slightly, though above its lowest levels of the morning, after reports that Iran has denied a New York Times report that Iranian operatives reached out to the C.I.A. with an offer to end the war. Still, the energy sector (-1.6%) lags this morning after several consecutive days of higher oil prices. 

Meanwhile, several S&P 500 sectors are higher this morning, including some recent underperformers. 

The consumer discretionary sector (+1.5%) leads the advance, with Amazon (AMZN 214.28, +5.55, +2.66%) and Tesla (TSLA 397.41, +4.98, +1.27%) contributing to a solid start for mega-cap stocks, while Ross Stores (ROST 209.14, +11.50, +5.82%) rises after earnings. 

Software stocks are off to another higher start, helping the top-weighted information technology sector (+0.8%) rise to a nice early gain. The iShares GS Software ETF is up 1.2%. Meanwhile, chipmakers are garnering some buying interest after pronounced weakness yesterday, with the PHLX Semiconductor Index currently up 0.6%. 

The financials (+0.3%) and communication services (+0.3%) sectors also hold modest early gains. 

Just released, the ISM Services PMI checked in at 56.1 in February (Briefing.com consensus: 53.9), up from 53.8 in January.

The final S&P Global U.S. Services PMI registered at 51.7, down from a previous reading of 52.3.