Stock Market Update

[BRIEFING.COM] The stock market is sitting on some solid gains, although that has been driven in large part by the outperformance of the mega-cap cohort. The Vanguard Mega-Cap Growth ETF (MGK 83.56, +1.19, +1.44%) is up 1.4% versus a 0.2% gain for the equal-weighted S&P 500 and a 0.8% gain for the market cap-weighted S&P 500.

The usual leaders are doing their thing, including NVIDIA (NVDA 201.18, +1.30, +0.65%), which presumably has more competition on its hands now after Alphabet (GOOG 335.62, +5.15, +1.56%) unveiled its TPU 8t and TPU 8i chips to power next-gen agentic AI training and inference at scale at its Google Cloud Next conference.

Today's other leaders include Apple (AAPL 271.62, +5.45, +2.05%), Amazon (AMZN 252.70, +2.79, +1.12%), Meta Platforms (META 673.32, +4.48, +0.67%), Tesla (TSLA 391.37, +4.95, +1.28%), and Microsoft (MSFT 429.89, +5.73, +1.35%).

Beyond the so-called "Magnificent 7," Eli Lilly (LLY 919.90, +16.88, +1.87%) and Broadcom (AVGO 413.56, +11.39, +2.83%) are also on the move.