Stock Market Update

[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (+0.2%), and DJIA (-0.5%) are modestly improved as tech stocks begin to move higher. 

Semiconductor stocks are rising to their best levels of the session, with the PHLX Semiconductor Index now up 1.7%.

Broadcom (AVGO 377.63, -14.53, -3.71%) is a laggard after partnering with Apollo Global Management (APO 134.08, +1.38, +1.04%) on an AI platform backed by an initial $35 billion.

Taiwan Semiconductor Manufacturing (TSM 424.77, -3.15, -0.74%) faces some profit-taking after reporting May revenue of NT$416.98 billion, up 1.5% from April and 30.1% year-over-year, with first-five-month 2026 revenue up 30.0% year-over-year to NT$1.962 trillion.

Meanwhile, KLA Corporation (KLAC 2272.98, +133.61, +6.25%) and Applied Materials (AMAT 531.34, +32.13, +6.44%) are among some of the best-performing S&P 500 components.