Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.3%), and DJIA (+0.3%) hold similar gains this morning, supported by a rebound in tech stocks and easing oil prices.

The information technology sector (+0.9%) is a standout this morning as semiconductor stocks reclaim yesterday's losses, with the PHLX Semiconductor Index up 1.2%. Select software names are also surging higher, with Datadog (DDOG 278.46, +21.54, +8.38%) leading all S&P 500 names and a solid gain in Microsoft (MSFT 516.84, +18.90, +3.80%) keeping the Dow on pace with the other major indices.

The industrials sector (+0.7%) is also firmly higher, supported by electrical product names such as Generac (GNRC 205.83, +7.78, +3.93%) and Vertiv (VRT 252.48, +7.18, +2.93%) that often move in tandem with semiconductor stocks.

Action is relatively muted elsewhere, with the majority of S&P 500 sectors in close proximity to their unchanged levels. The energy sector (-1.0%) is a laggard as crude oil moves $1.27 (-1.3%) lower to $93.34 per barrel, while Meta Platforms (META 757.35, -20.24, -2.60%) gives back some of its recent strength, weighing on the communication services sector (-0.6%).

Just released, the final September University of Michigan Consumer Sentiment Index came in at 48.1 (Briefing.com consensus 47.8), slightly above the preliminary reading of 47.8.