Stock Market Update

[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (+0.3%), and DJIA (+0.4%) are mostly higher this morning, with the DJIA notching a record high for the second consecutive day.

Gains are limited by some modest profit-taking in the information technology sector (-0.3%) after yesterday's 3.4% rally. Semiconductor names, which played a key role in the rally, are mixed today, with the PHLX Semiconductor Index (+0.1%) flattish.

Meanwhile, memory names Western Digital (WDC 719.76, +66.23, +10.13%) and Seagate Tech (STX 1080.50, +61.70, +6.06%) are extending yesterday's gains, once again among the top-performing S&P 500 names.

Several cyclical sectors are also adding to yesterday's gains as oil prices continue to retreat this morning. The industrials sector (+1.0%) holds the widest gain, while the financials (+0.7%) and materials (+0.6%) sectors are also near the top of the leaderboard.

Meanwhile, the energy sector (-0.4%) is a laggard, while more defensively oriented sectors also underperform, similar to yesterday's action.