Stock Market Update

[BRIEFING.COM] Micro-cap stocks, small-cap stocks, high-beta stocks, the information technology sector (+2.1%), and the semiconductor space (SOX Index +6.8%) are among the standouts in today's session, as they have received a renewed boost from buy-the-dip action.

The rest of the market, so to speak, has been underwhelming with rate-hike concerns—or, at least, concern about higher rates for longer—helping to keep a lid on things.

The latter point notwithstanding, it is clear that some of the edge has been taken off from Friday's broad-based and deep pullback, as seen in the CBOE Volatility Index. The VIX Index, or so-called "fear gauge," surged as high as 21.57 on Friday (up from 15.40 last Thursday) but has backed down 12.9% today to 18.73.