Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.1%), and DJIA (+0.8%) are trading modestly higher, supported by a solid rebound in the broader market following Friday's sell-off. The S&P Mid Cap 400 (+0.3%) and Russell 2000 (-0.3%) are mixed.

Nine S&P 500 sectors are trading higher, with seven posting gains of more than 1.0%. Unfortunately for the major averages, the top-weighted information technology sector (-0.7%) is not among the gainers this morning, with semiconductor stocks continuing to face recent weakness. The PHLX Semiconductor Index is down 3.4%, widening its loss for the month of March to 11.0%.

The industrials sector (-0.8%) is also trading lower, with particular weakness in construction and electrical equipment names.

Meanwhile, the broader market is showing firm gains, helping to keep the major averages in positive territory.

Geopolitical developments continue to garner the lion's share of attention this morning, with mixed signaling surrounding the war in Iran. President Trump wrote on Truth Social that Iran has conceded many of the demands outlined in a 15-point peace proposal, though in the same message, the president also threatened to destroy Iran's energy infrastructure. Reports over the weekend indicated U.S. troop movements in the Middle East, while Yemen's Iran-backed Houthis claimed missile strikes against Israel, all of which point to potential escalation in the conflict. Crude oil is currently up $2.63 (+2.6%) at $102.27 per barrel.