Stock Market Update

[BRIEFING.COM] The stock market is in rebound-mode after last week's sharp declines. Mega caps and semiconductor shares have boosted index performance, but many stocks are participating in upside moves. The market-cap weighted S&P 500 sports a 0.8% gain and the equal-weighted S&P 500 trades 0.6%.

NVIDIA (NVDA 105.56, +2.73, +2.7%) is an influential winner after plunging 14% last week. This price action has contributed to the gain in the S&P 500 information technology sector (+1.0%), along with a gain in Microsoft (MSFT 407.04, +5.34, +1.3%). Apple (AAPL 219.03, -1.69, -0.8%), meanwhile, trades lower ahead of the "It's Glowtime" product event today. 

The financial sector (+1.1%) is another top performer, along with the communication services (+1.4%) and consumer discretionary (+1.4%) sectors.

The rate-sensitive utilities (+0.02%) and real estate (+0.2%) sectors show the smallest gains among the 11 sectors amid rising market rates. The 10-yr note yield is up one basis point to 3.72% and the 2-yr note yield is up three basis points to 3.68%.