Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (unch), and DJIA (+0.5%) are off to a mostly higher start, though weakness in select mega-cap names limits early gains.

The top-weighted information technology sector (+1.2%) trades firmly higher, once again supported by strength across its semiconductor and other AI-infrastructure names. The PHLX Semiconductor Index is up 1.9%, and Super Micro Computer (SMCI 35.34, +4.68, +15.28%) rockets higher, leading all S&P 500 names.

Those gains are somewhat offset at the index level by a sharp retreat in June's worst-performing S&P 500 sector, the communication services sector (-2.4%). Alphabet (GOOG 352.02, -15.44, -4.20%) continues to face weakness, extending this month's loss to 7%.

Meanwhile, the consumer discretionary sector (-0.7%) also lags, with today's retreat in oil prices not providing oil and rate-sensitive stocks with the same boost after doing so in several previous sessions.

Elsewhere, the market tilts mostly higher, with seven S&P 500 sectors holding gains. The financials sector (+0.9%) is a top mover, supported by strength in nearly all of its components.