Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.6%), and DJIA (flat) are off to a mostly higher start to the week as semiconductor stocks rebound against a backdrop of mixed strength in the broader market.

So far, large chipmakers, memory names, and other AI infrastructure stocks are among the best performers in the S&P 500. The PHLX Semiconductor Index is up 2.5%, pushing the top-weighted information technology sector (+0.8%) firmly higher.

The performance of mega-cap tech stocks outside the technology sector is mixed, though a solid gain in Alphabet (GOOG 359.22, +13.10, +3.79%) lifts the communication services sector (+1.4%) to the top of the leaderboard.

Gains are more modest elsewhere, with a total of seven S&P 500 sectors trading higher.

The consumer discretionary sector (-0.3%) is an early laggard, while the defensive consumer staples (-0.2%) and health care (-0.2%) sectors also face some pressure as investors rotate back into chipmakers today.

Just released, the June Leading Economic Index decreased 0.2% month-over-month (Briefing.com consensus 0.1%), from a prior increase of 0.1%.