Stock Market Update

[BRIEFING.COM] The major indices haven't looked all that interested yet in course correcting. The bias continues to be to the upside, with the S&P 500 just 1.5% below its all-time high.

The information technology sector (+0.5%) is a key driver this morning. Once again, the semiconductor stocks are setting the pace for that outperformance. The Philadelphia Semiconductor Index is up 0.8%.

Broadcom (AVGO 250.02, +5.38, +2.20%), Qualcomm (QCOM 160.88, +1.75, +1.10%), and Micron (MU 116.32, +2.18, +1.91%) are among the early leaders, with NVIDIA (NVDA 144.44, +0.48, +0.33%) participating but trailing behind.

In related news, NVIDIA CEO Jensen Huang said that quantum computing is reaching an inflection point. That view has been the catalyst for today's outsized gains in the quantum space for stocks like Quantum Computing (QUBT 20.39, +5.26, +34.77%) and Rigetti Computing (RGTI 13.40, +2.16, +19.17%).