Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.5%), Nasdaq Composite (+2.3%), and DJIA (+1.2%) trade in a steady range near their opening highs.

Semiconductor stocks are off to another hot start, with the PHLX Semiconductor index up 4.0%. Micron (MU 1070.17, +88.56, +9.02%) is a top mover after RBC Capital Markets raised its price target on the stock to $1200 from $525.

Memory peers Western Digital (WDC 645.21, +82.28, +14.62%) and Seagate Tech (STX 1015.76, +84.72, +9.10%) trade even higher, and are the best-performing S&P 500 names this morning.