Stock Market Update

[BRIEFING.COM] The stock market opened to modest gains in the S&P 500 (+0.2%) and Nasdaq Composite (+0.3%) as six S&P 500 sectors trade in positive territory. 

Meanwhile, the DJIIA (unch) trades on its flatline as Amgen (AMGN 286.70, -13.38, -4.46%) and Walt Disney (DIS 112.81, -5.66, -4.78%) trade lower in response to earnings, while McDonald's (MCD 306.25, +7.48, +2.50%) trades higher.

President Trump will make an announcement in the Oval Office today at 16:30 ET pertaining to a $100 billion investment increase by Apple (AAPL 209.83, +6.91, +3.40%) into the U.S. economy, to a total of $600 billion.

Shares of Apple are higher in response, buoying a 0.4% gain in the information technology sector that faces pressure from chipmakers following earnings.

Advanced Micro Devices (AMD 164.63, -9.68, -5.55%) trades lower after reporting EPS in line, and Cirrus Logic (CRUS 93.06, -11.91, -11.35%) retreats even further despite beating expectations and issuing upside guidance. The PHLX Semiconductor Index is down 0.9% as a result in the early going.