Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.3%), and DJIA (+0.1%) are modestly higher just before midday, with the modest gains resulting in fresh intraday all-time highs for the S&P 500 and Nasdaq Composite.

The market continues to monitor developments between the U.S. and Iran, with President Trump deeming Iran's latest peace proposal as "totally unacceptable." Crude oil is currently up $1.83 (+1.9%) to $97.25 per barrel.

The market is largely overlooking the bump in oil prices, which is due in part to another day of solid gains across semiconductor stocks. The PHLX Semiconductor Index is currently up 2.1%, helping the information technology sector (+1.0%) rise to its best levels of the session.

Lumentum (LITE 1054.94, +151.14, +16.72%) and Coherent (COHR 376.85, +41.59, +12.41%) are the best performing S&P 500 components, while NVIDIA (NVDA 221.52, +6.32, +2.94%) is a "magnificent seven" standout.

Outside of the S&P 500, the Russell 2000 (+0.6%) is outperforming, while the S&P Mid Cap 400 (-0.3%) is modestly lower.