Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.7%), Nasdaq Composite (+1.4%), and DJIA (-0.1%) have spent the session in a relatively narrow range as investors buy into recent weakness across semiconductor stocks against a backdrop of mixed strength in the broader market.

The PHLX Semiconductor Index is up 3.8%, pushing the information technology sector (+2.0%) to the top of today's leaderboard, with stocks such as Advanced Micro Devices (AMD 567.77, +49.95, +9.65%) and Arista Networks (ANET 173.22, +13.23, +8.27%) leading all S&P 500 components. The broader market has seen some improvements from the open, with a total of five S&P 500 sectors now trading higher, though gains are more modest elsewhere.

Weakness is increasingly concentrated across more defensive-oriented sectors, with the consumer staples (-1.8%), health care (-1.5%), and utilities (-1.1%) sectors the three worst-performing sectors.

The S&P 500 Equal Weighted Index (-0.1%) sits modestly lower as a result.

Outside the S&P 500, the Russell 2000 (+0.8%) and S&P Mid Cap 400 (+0.6%) are off to a solid start after finishing lower in the previous week.