Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.3%), and DJIA (+0.8%) are pushing further into record territory today amid another rally across tech stocks and a retreat in oil prices.

Leadership is narrow today, but the top-weighted information technology sector (+1.7%) holds a wide enough gain to prompt index-level gains. Semiconductor names have given back nearly all of their opening strength, but the iShares GS Software ETF (IGV 100.32, +4.64, +4.85%) is charting session highs, and hardware names are soaring higher after Dell's (DELL 411.29, +94.24, +29.72%) earnings release yesterday afternoon.

The financials (+0.8%) and materials (+0.3%) sectors hold more modest gains, while the other eight S&P 500 sectors move lower.

The consumer staples sector (-2.1%) is particularly weak after Costco (COST 949.93, -45.27, -4.55%) disappointed with a mixed Q3 earnings report.

In addition to the earnings buzz, the market remains attuned to developments on the geopolitical front. President Trump posted on Truth Social that he is currently meeting in the Situation Room to make "a final determination" on an agreement with Iran. Crude oil is currently down $1.87 (-2.1%) to $87.03 per barrel.