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WALL STREET INDEXES RISE WITH TECH OUTPERFORMING

Wall Street's three major indexes are eyeing their second straight day of gains this week with the heavyweight technology sector adding the biggest boost, and within that sector, semiconductors and software are outperforming while alcohol stocks helped drag down the consumer staples index.

Technology stocks, and particularly software, have endured a bumpy ride recently as investors have worried about hefty spending and competition disruption from the boom in artificial intelligence.

But with AI chip leader Nvidia NVDA.O due to report results after the market close on Wednesday, traders appear to be letting their fear of missing out replace their fear of risk as they showed a strong appetite for chip stocks and some software companies.

However, under the hood, of the S&P 500's 11 major industry sectors, only five are advancing. Energy .SPNY, off >1%, and industrials .SPLRCI are jostling for position as the biggest loser. In industrials .SPLRCI, defense companies are among the biggest losers. Consumer staples .SPLRCS is off about 1%.

On the staples side, the weakest stocks are alcohol producers with Brown-Forman BFb.N off more than 7% and Molson Coors TAP.N down 4%.

This is after London-listed Johnnie Walker and Guinness maker Diageo DGE.L forecast a 2026 organic sales decline of 2%-3% and halved its interim dividend to 20 cents per share with its new CEO saying it needed investment to boost competitiveness and resolve capacity constraints on Guinness growth.

Here is your morning snapshot from 10:23 a.m. ET (1523 GMT):

(Sinéad Carew)

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