Another great session for the market powered by semiconductor stocks.

Developments out of CES and upside guidance from Microchip Technology (MCHP) this morning has the chips screaming. 

Ironically, the Communication Services (XLC) sector is lower. The market is being led by Materials (XLB), as metal commodities continue to rally higher.

Healthcare (XLV) is the runner up and getting a boost from Intuitive Surgical (ISRG), after the company got a price target upgrade from Evercore ISI. Additionally, Moderna (MRNA) is giving the sector a boost after it announced that it submitted regulatory filings for the approval of its seasonal influenza vaccine, mRNA-1010, in the USA, EU, Canada, and Australia.

On the other hand, Energy (XLE) is lagging, as natural gas prices dip lower on expectations of milder-than-usual January weather.

Magnificent Seven names are mostly moving lower, with Tesla (TSLA) lagging. The one notable exception is Amazon (AMZN), which is getting a boost after raising GPU prices for machine learning by approximately 15%.

Defense stocks are also getting a boost following comments from Trump emphasizing the need to boost military production and a new agreement with Lockheed Martin (LMT) to more than triple Patriot Missile production capacity.

The S&P 500 still having trouble breaking out - this is the moment. It has to happen this month, or we could see a pullback 

Small caps enjoying another solid session, although money flows are not convincing yet.