Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (-0.2%), and DJIA (+0.8%) are mixed shortly after the open as tech names continue to underperform while the broader market is mixed. 

Advanced Micro Devices (AMD 255.27, +17.75, +7.47%) trades sharply higher after the company's financial analyst day, in which the company said it expects AI spending to ramp.

The PHLX Semiconductor Index is up 1.0%, though NVIDIA (NVDA 192.31, -0.85, -0.44%) has reversed course from a premarket gain. The broader technology sector is now down 0.2%.

Mega-caps have yet to see a strong buy-the-dip effort following yesterday's retreat. Alphabet (GOOG 286.94, -4.80, -1.65%) is an early laggard, weighing on both the communication services sector (-1.0%) and the Vanguard Mega Cap Growth ETF (-0.3%). 

Meanwhile, the health care sector (+1.1%) continues to excel, with Eli Lilly (LLY 1018.87, +30.25, +3.06%) widening its week-to-date gain past 10.0%. 

The financials sector (+1.1%) is another top mover, with major banking names trading higher ahead of President Trump's dinner with JPMorgan Chase (JPM 320.96, +5.34, +1.69%) CEO Jamie Dimon and other top financial executives. 

U.S. Treasuries are off to a higher start after yesterday's Veterans Day closure. The 2-year note yield is down three basis points to 3.56%, and the 10-year note yield is down four basis points to 4.07%.