Stock Market Update

[BRIEFING.COM] The Nasdaq Composite (-0.1%) hovers near even footing for the day, while the S&P 500 (-0.4%) and the DJIA (-0.8%) lag.

The technology sector (+0.1%) is hovering above its opening levels due to strength from top component NVIDIA (NVDA 166.62, +2.52, +1.5%). The performance has not translated to other chip stocks, as the PHLX Semiconductor Index is down 0.2%.

CNBC reported that Brazilian President Luiz Inácio Lula da Silva said the U.S. does not run a trade deficit with Brazil; he says he will fight for tariffs not to take effect, but if they do go into effect, he will retaliate.

Treasuries remain down, with the 10-year note yield up six basis points at 4.41%.