Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.6%) and Nasdaq Composite (+0.8%) are higher while the Dow Jones Industrial Average (+0.04%) and Russell 2000 (-0.09%) trade near yesterday's closing levels. Mega caps and chipmakers, benefitting from buy-the-dip interest, have boosted the broader market in early action. 

NVIDIA (NVDA 130.38, +2.66, +2.1%) is among the top performers after a Bloomberg report that Hon Hai Precision is aiming to increase capacity to meet demand for artificial intelligence products. The Vanguard Mega Cap Growth ETF (MGK) shows a 1.1% gain and the PHLX Semiconductor Index (SOX) shows a 0.4% gain.

Many stocks are participating in upside moves. Nine of the 11 S&P 500 sectors are higher led by information technology (+1.5%). 

Oil prices are sliding due to fears about Hurricane Milton. WTI crude oil futures are down 3.8% to $74.26/bbl.