It is a solid session that staved off early weakness and is now in the highs of the day, led by semiconductors, equipment, memory names, and optical darlings. 3M (MMM) is giving a boost to Industrials (XLI) after reporting a big beat-and-raise quarter.

Growth is dominating among the factors.

The S&P 500 has been oscillating around its 50-day moving average in the past three sessions. A rebound could see stocks making a run at all-time highs. On the other hand, a break below could send it down to 7,313.

AI Update

This morning, Treasury Secretary Scott Bessent said the US will carefully examine open-source AI models created overseas. He indicated the administration is looking into whether Chinese open-source AI models were built on stolen IP.

This morning Google released three new Gemini models, including its clearest answer to Anthropic’ s lead in cybersecurity. This signals continued commitment to expanding the Gemini ecosystem, even after recently facing delays.

The Gemini 3.6 Flash model is pushing the token costs lower, undercutting competitors who charge premium rates for comparable inference quality.