Stock Market Update

Early growth in the stock market pushed the S&P 500 (+0.2%) and Nasdaq Composite (+0.4%) to new record highs shortly after the open.

[BRIEFING.COM] Chipmakers are off to another hot start, with shares of NVIDIA (NVDA 178.84, +2.08, +1.2%) trading higher after the company placed an order for 300,000 H20 chips from Taiwan Semiconductor Manufacturing (TSM 243.22, +0.47, +0.2%) to satisfy demand in China, according to Bloomberg. 

The early gains have the information technology sector (+0.7%) as the best-performing S&P 500 sector so far.

Elsewhere, the utilities (+0.7%), real estate (+0.6%), financials (+0.3%), consumer staples (+0.2%), and energy (+0.1%) sectors contribute to the early advance. 

Just released, the Conference Board's Consumer Confidence Index increased to 97.2 in July (Briefing.com consensus 95.5) from an upwardly revised 95.2 (from 93.0) in June.

Job openings for June decreased to 7.437 million from a revised 7.712 million (from 7.769 million) in May.