Stock Market Update

[BRIEFING.COM] It's not that the tech sector is the only game in town, but in some respects it looks like it today. The S&P 500 and Nasdaq have extended their reach into record territory in a deliberate fashion that, generally, has been bereft of selling interest in the two areas that matter most to the indices: the information technology sector (+2.4%) and the mega-cap stocks.

All the while, the equal-weighted S&P 500 (-0.2%) has been languishing with a modest loss and trading near its lows for the day.

Separately, there was no blowoff top in the semiconductor stocks today. They have continued to rally, bolstered by AI enthusiasm, momentum, and fundamental earnings strength.

The Philadelphia Semiconductor Index is up 4.2%, leaving it up 9.9% for the week and 38.4% for the month.