Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+0.1%), and DJIA (+0.7%) continue to climb off their early lows as a solid showing from the broader market helps offset renewed pressure across semiconductor names.

All eleven S&P 500 sectors trade higher as the market rebounds from yesterday's broad retreat, with easing oil prices and Treasury yields adding support. Reuters reported that Pakistan and Iran are considering a new path toward peace talks with U.S. after China intervened, and crude oil is down $3.82 (-4.1%) to $88.37 per barrel.

The information technology sector (+0.1%) was the last S&P 500 sector to enter positive territory, as it is held back by a weak showing from semiconductor names today. The PHLX Semiconductor Index is down 2.9%, following a resilient showing yesterday that saw select AI infrastructure names scratch out gains as hyperscalers continued to increase their capital expenditure plans.

So far, the market is enjoying a decent bounce off yesterday's relatively broad, mega-cap-led retreat. The S&P 500 and DJIA are now little changed for the week as the market enters Friday afternoon in a familiar "semiconductors vs. the broader market" trade.