Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.1%), Nasdaq Composite (+1.7%), and DJIA (+0.5%) are bouncing back from Friday's selloff as investors buy into the most recent dip across semiconductor stocks.

The PHLX Semiconductor Index (+6.8%) has reclaimed around two-thirds of Friday's losses, pushing the information technology sector (+2.6%) to the top of today's sector leaderboard. In addition to the technical rebound, there are a few notable stock-specific headlines across the group. Intel (INTC 111.33, +12.16, +12.26%) trades sharply higher after The Information reported Alphabet (GOOG 360.94, -4.82, -1.32%) and NVIDIA (NVDA 207.88, +2.78, +1.36%) are considering using the company as a backup chip manufacturer, while Corning (GLW 189.00, +11.42, +6.43%) surges after announcing a multibillion-dollar data center infrastructure deal with Amazon (AMZN 246.92, +0.89, +0.36%).

Strength is mixed in the broader market, though the energy sector (+1.3%) is another top mover, with WTI crude up $1.39 (+1.5%) to $91.93 per barrel. Oil is well off its overnight highs as Israel and Iran halt strikes against each other for the time being.

Outside of the S&P 500, the Russell 2000 (+1.7%) and S&P Mid Cap 400 (+0.9%) hold solid gains, supported by a relatively stable showing from U.S. Treasuries today.