Stock Market Update

[BRIEFING.COM] The stock market opened higher across the board. The S&P 500 (+1.3%) and the Nasdaq Composite (+1.4%) are benefitting from increased buying in tech stocks after the Trump administration announced that smartphones, laptops, semiconductors, solar cells, and other electronic items will be excluded from reciprocal tariffs.

Some of the most influential names in the market are sharply higher on the news. Apple (AAPL 207.04, +8.89, +4.5%) is a standout in that respect.

All 11 S&P 500 sectors are higher by at least 0.5%. The technology sector leads the pack after the announcement, trading 1.9% higher, followed by the financial (+1.5%) and communication services (+1.4%) sectors.

The financial sector is responding in part to above-consensus quarterly results from Goldman Sachs (GS 501.15, +6.71, +1.4%).

There was no notable economic data today and Treasury yields are lower. The 10-yr yield is down eight basis points to 4.41% and the 2-yr yield is down five basis points to 3.90%.