Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.7%), Nasdaq Composite (+0.7%), and DJIA (+0.8%) sit at session highs shortly before midday, supported by broad strength and solid tech leadership.

The information technology sector (+1.1%) now holds the widest gain across S&P 500 sectors, supported by gains across several key groups. The PHLX Semiconductor Index (+2.5%) and iShares Expanded Tech-Software ETF (+1.4%) are both higher, while Lenovo's (LNVGY 39.63, +5.71, +16.83%) earnings report has prompted some sharp gains across hardware names such as HP Inc. (HPQ 25.52, +3.62, +16.53%) and Dell (DELL 291.00, +38.20, +15.11%).

Apple (AAPL 310.80, +5.81, +1.90%) is a mega-cap standout, while Tesla (TSLA 428.20, +10.35, +2.48%) provides solid leadership for the consumer discretionary sector (+0.6%), and the Vanguard Mega Cap Growth ETF is 0.7% higher.

Eight S&P 500 sectors trade higher, while the Russell 2000 (+0.6%) and S&P Mid Cap 400 (+0.3%) also hold gains.

Geopolitical headlines have been somewhat muted, with Secretary of State Marco Rubio saying "slight progress" has been made in talks between the U.S. and Iran. Crude oil prices and shorter-tenor Treasury yields are both modestly higher, though neither has had much effect so far on the major averages.