Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (flat), and DJIA (+0.5%) are mostly higher this morning as investors balance rising oil prices against relatively broad buying interest following Friday’s sharp retreat.

President Trump’s commentary on progressing negotiations with Iran gave the market some optimism before the open, but CBS News recently reported that hundreds of U.S. special forces are now in the Middle East, suggesting an escalation to the conflict is still in play.

The energy sector (+0.9%) is the top-performing S&P 500 sector this morning, boosted by a higher price of oil as WTI crude climbs $2.82 (+2.8%) to $103.46 per barrel.
The stock market’s opening strength encompassed all eleven S&P 500 sectors, though the industrials (-0.9%) and information technology (-0.5%) sectors have since moved lower, with losses across tech erasing the Nasdaq Composite’s early gain.

Semiconductors are not among the stocks that are garnering some buy-the-dip interest this morning and instead see a continuation of recent losses. The PHLX Semiconductor Index is down 2.1%.