Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+0.6%), and DJIA (+0.5%) trade in a stable range shortly before midday. 

Though gains at the index level are relatively modest, they are broad-based, with ten S&P 500 sectors trading higher. The materials (+1.4%), financials (+1.2%), and energy (+1.0%) sectors are the early outperformers, with the majority of components in each sector trading higher. 

While today's session is not the full-blown tech rally of late last week, the information technology sector (+0.5%) still holds a solid gain. Continued strength in chipmakers such as NVIDIA (NVDA 183.63, +2.64, +1.46%) and Micron (MU 271.14, +5.22, +1.96%) lifts the PHLX Semiconductor Index to a 1.2% gain. 

In corporate news, Paramount Skydance (PSKY 13.94, +0.88, +6.78%) is the top-performing S&P 500 name today after the company amended its $30 per share all-cash offer for Warner Bros. Discovery (WBD 28.62, +0.84, +3.04%) to include an irrevocable personal guarantee of $40.4 billion of the equity financing from Larry Ellison.

Outside of the S&P 500, the Russell 2000 (+1.5%) and S&P Mid Cap 400 (+1.0%) are outperforming.