Stock Market Update

[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (+0.2%), and DJIA (-0.3%) are mixed shortly before midday as solid tech leadership helps balance out broad weakness inflicted by a spike in oil prices.

Premarket coverage largely centered around NVIDIA (NVDA 219.51, +8.37, +3.96%) and Microsoft's (MSFT 460.85, +10.61, +2.36%) newly announced partnership to build a secure Windows platform for on-device AI agents. Dell (DELL 455.18, +34.26, +8.14%) also trades sharply higher on the announcement.

Elsewhere in the sector, software names are extending their recent rebound effort, with the iShares GS Software currently up 4.8%.

The energy sector (+2.3%) is the only other S&P 500 sector that trades higher, which is a result of a spike in oil prices just before the open that followed reports that Iran has stopped messaging the U.S. in protest of Israel's strikes in Lebanon. Crude oil is up $6.67 (+7.6%) to $94.03 per barrel, which weighs heavily on oil and rate-sensitive pockets of the market.

The consumer discretionary (-2.2%) and utilities (-2.2%) sectors currently hold the widest losses, while outside of the S&P 500, the Russell 2000 (-1.0%) and S&P Mid Cap 400 (-0.5%) lag.