Stock Market Update

[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (+0.3%), and DJIA (-0.5%) are sitting mixed this morning following another surge in oil prices today. 

Crude oil is currently up $3.44 (+4.6%) to $78.10 per barrel as the war in Iran enters its sixth day of conflict. The energy sector (+1.0%) is the top performer this morning, regaining some ground after the sector took a step back yesterday as oil prices stabilized. 

The top-weighted information technology sector (+0.7%) also trades in the green, with Broadcom (AVGO 329.21, +11.68, +3.68%) a notable standout after topping earnings expectations despite some weakness across other prominent chipmakers. 

Software stocks continue to expand this week's rebound off of recent lows, with the iShares GS Software ETF up 2.6%. 

Travel agencies such as Expedia Group (EXPE 246.87, +25.62, +11.58%) and Booking Holdings (BKNG 4582.12, +328.54, +7.72%) are also among the outperformers, contributing to strength in the consumer discretionary sector (+0.6%). 

The financials sector (+0.1%) recently entered positive territory, while the other seven S&P 500 sectors trade lower. Losses are most concentrated in the defensive consumer staples (-1.6%), health care (-1.5%), and utilities (-1.1%) sectors, while the industrials sector (-0.9%) also lags as higher oil prices weigh on airline names.