Stock Market Update

[BRIEFING.COM] Although the Nasdaq Composite (+0.1%) initially opened slightly lower, an improvement in the information technology sector (flat) propelled the index to a new all-time high of 21,467.97. Meanwhile, the S&P 500 (+0.1%) also sports a slight gain, and the DJIA trades flat. 

The information technology sector slumped 0.3% out of the gate, though NVIDIA (NVDA 182.86, +0.12, +0.07%) and Advanced Micro Devices (AMD 173.39, +0.63, +0.36%) have both resurfaced above their flatlines following reports that the companies will cede 15% of their chip sales revenue in China to the U.S. government. 

The market is optimistic on chip makers this morning, as the PHLX Semiconductor Index sports an early gain of 1.2%.

Meanwhile, Apple (AAPL 225.88, -3.47, -1.51%) faces some profit-taking after last week's impressive rally. 

Elsewhere, the health care (+0.6%), financials (+0.2%), consumer discretionary (+0.2%), and energy (+0.1%) sectors comprise the four S&P 500 sectors trading in positive territory.

The communication services (-0.3%), utilities (-0.2%), and consumer staples (-0.2%) sectors are the top laggards so far.