Stock market today: S&P 500 up, Nasdaq leads as chip stocks surge

1. 1:15 PM ET

   Since the last update, the S&P 500 has edged back up to 7,396.63, a gain of 0.58% on the day, while the Nasdaq Composite has ticked higher to 24,598.06, up 1.16%. The Dow Jones Industrial Average remains in slightly negative territory, down 0.04%, and the volatility index (VIX) has extended its decline to down 10.33%.

2. 12:45 PM ET

   Since the last update, the S&P 500 has slipped further to 7,395.24, up 0.56% on the day, while the Nasdaq Composite has also come off its highs to 24,594.54, a gain of 1.15%. The Dow Jones Industrial Average has turned negative again, down 0.08%, and the volatility index (VIX) has extended its decline, now down 9.30%.

3. 12:15 PM ET

   Since the last update, the S&P 500 has eased slightly to 7,414.72, up 0.83% on the day, while the Nasdaq Composite has slipped a touch to 24,685.03, still up 1.52%. The Dow Jones Industrial Average has pulled back to barely positive at 0.05%, and the 10-year Treasury yield has ticked up to 4.850%.

4. 11:45 AM ET

   Since the last update, the S&P 500 has climbed back to 7,420.84, up 0.91% on the day, while the Nasdaq Composite has advanced to 24,707.79, a gain of 1.62%. The Dow Jones Industrial Average has turned slightly positive, up 0.04%, and the volatility index (VIX), which measures expected market swings, has dropped 14.69%.

5. 11:15 AM ET

   Since the last update, the S&P 500 has held roughly steady at 7,409.03, up 0.75% on the day, while the Nasdaq Composite has ticked up to 24,641.15, a gain of 1.34%. The Dow Jones Industrial Average is now essentially flat, up just 0.02%, and the 10-year Treasury yield has edged higher to 4.850%.

6. 10:45 AM ET

   Since the last update, the S&P 500 has eased slightly to 7,409.58, up 0.76% on the day, while the Nasdaq Composite has also pulled back a touch to 24,659.14, up 1.42%. The Dow Jones Industrial Average has turned negative again, down 0.07%, and the 10-year Treasury yield has risen to 4.858%.

7. 10:15 AM ET

   Since the last update, the S&P 500 has pushed further into positive territory, now up 1.07% at 7,432.61, while the Nasdaq Composite has climbed 1.84% to 24,763.37. The Dow Jones Industrial Average has turned around to sit just above flat, up 0.06%, and the volatility index (VIX) has dropped 15.65% on the day.

8. 9:45 AM ET

   The market opened higher Friday and has held gains through the morning. As of 9:45 AM ET, the S&P 500 is up 0.77% at 7,410.66 and the Nasdaq Composite has added 1.61% to reach 24,706.73, while the Dow Jones Industrial Average is down 0.43%. The move follows a stronger-than-expected October jobs report, which CNBC said showed the economy added 165,000 jobs versus expectations for a much smaller gain, with the unemployment rate falling to 4.1%; Reuters reported that traders have raised their bets on a Federal Reserve interest-rate hike following the data.

The session so far

The S&P 500 and Nasdaq Composite are both higher, with the Nasdaq outpacing the broader index, while the Dow Jones Industrial Average sits just below flat. Breadth is negative even as the index rises, with 213 of the S&P 500's 503 members up and 290 down. Technology and communication services lead the gainers among the six advancing sectors, while consumer staples and real estate lag; semiconductor stocks are moving together as a group, with several members up sharply.

The biggest moves

Coherent and Airbnb are among the session's largest gainers, both up close to 12%, though no source in today's research explains the moves. Vistra is also sharply higher; the company reported third-quarter results showing net income of $1,140 million and more than 50% growth in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to $2,378 million, according to the company's earnings release on PRNewswire.

On the decliner side, Axon Enterprise is down sharply along with Microchip Technology, Insulet, Centene and Gartner, but none of today's sources give a reason for these moves. Reuters reported that trader anxiety has shifted from inflation toward growth concerns as a selloff in technology shares has deepened, a backdrop that may be weighing on sentiment across the market broadly.