Stock Market Update

[BRIEFING.COM] Stocks are putting together a strong session, with the S&P 500 (+0.9%) and Nasdaq Composite (+0.9%) charting fresh all-time highs just before midday while the DJIA (+0.8%) largely keeps pace. 

The major averages are supported by a fresh all-time high from NVIDIA (NVDA 241.81, +2.91, +1.22%) amid strength in semiconductor and mega-cap stocks today. The PHLX Semiconductor Index is up 1.1%, the information technology sector is up 1.1%, and the Vanguard Mega Cap Growth ETF is up 1.1%.

Similar to yesterday's session, stocks are bucking the recent trend of narrow market leadership, with solid gains throughout the broader market contributing to the record push. The utilities sector (+2.3%) holds the widest gain, supported by Constellation Energy's (CEG 304.44, +36.82, +13.76%) announcement of a 20-year nuclear power deal with Alphabet (GOOG 344.84, +1.01, +0.29%) and a move lower in oil prices and Treasury yields that is prompting sizable gains in the real estate (+1.2%) and consumer discretionary (+1.2%) sectors as well.

Only the health care sector (-0.1%) holds a modest loss amid weakness in Moderna (MRNA 191.93, -11.28, -5.55%) and other biotech stocks.

Outside the S&P 500, the S&P Mid Cap 400 (+0.7%) holds a gain similar to those of the major averages, while the Russell 2000 (-0.1%) has ceded its early gain and moved into slightly negative territory.