Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.5%), and DJIA +0.1%) are modestly higher as semiconductor stocks follow through on their premarket gains, while the broader market has a positive tilt.

The PHLX Semiconductor Index is up 2.6%, moving into slightly positive territory for the week. Intel (INTC 117.92, +7.12, +6.43%) and Advanced Micro Devices (AMD 435.35, +21.30, +5.14%) are among the best-performing S&P 500 components, while NVIDIA (NVDA 222.21, +1.60, +0.73%) holds a more modest gain ahead of its earnings release after the close.

The broader information technology sector (+0.8%) is outperforming as a result.

Meanwhile, the consumer discretionary sector (+0.5%) holds a similar gain as Amazon (AMZN 261.56, +2.22, +0.86%) and Tesla (TSLA 409.86, +5.75, +1.42%) rebound from a weaker showing yesterday, while TJX (TJX 158.55, +7.87, +5.22%) trades sharply higher after earnings.

However, Target (TGT 118.30, -8.94, -7.02%) is moving sharply lower despite topping earnings estimates of its own, which weighs on the consumer staples sector (-0.8%%).