Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%) finally broke through the 6,750 mark to capture a new record high, while the Nasdaq Composite (+0.1%) eclipsed the 23,000 mark to capture another record high of its own. The DJIA flat) has retreated to its flatline after holding an opening gain. 

Five S&P 500 sectors currently trade in positive territory. The information technology sector (+0.4%) is out near the front of the standings, benefitting from strength in Advanced Micro Devices (AMD 214.61, +10.90, +5.35%), NVIDIA (NVDA 188.02, +2.48, +1.34%), and other chipmakers that push the PHLX Semiconductor Index out to a 0.8% gain.

Within the financials sector (+0.4%), PayPal (PYPL 74.62, +3.33, +4.67%) makes a nice move higher after unveiling its new PayPal Ads Manager, which allows the tens of millions of small businesses that use PayPal to become their own retail media networks and generate new revenue streams.

Meanwhile, the utilities sector (+0.7%) outperforms, expanding its lead as the best-performing S&P 500 sector in October so far.