The S&P 500 has completely erased the 40-point pre-market decline and is now trading 12 points, or 0.2%, higher. The earlier selling was driven by tech names and that hasn't abated but some real economy shares are doing better on lower energy prices and Trump -- once again -- saying that war negotiations are in the final stages.The market has seemingly been rallying on the same 'end of the war' headlines for the past six weeks but it hasn't stopped working yet. What's largely keeping the dynamic working is the incredible mania around AI stocks and the supply chain supporting the sensational capex that's behind it.On that front, there are some cracks today. Shares of Broadcom are down 15% while Micron is down 7.9% and Intel is down 2.4%. I wrote about the unbelievable run in Sandisk shares yesterday but even those are down 2.5%.In contast, some hyperscalers are seeing stock gains today, including Meta (+2.5%), GOOG (+2.3%), and AMZN (+1.7%). Those have huge market caps and are index drivers. That's further supported by some travel names on lower oil prices, including BKNG, which is up 3.6% and airlines with the JETS ETF up 1.3%.On the economic front, today's initial jobless claims number was the worst in 16 weeks but earlier this week we got a JOLTS report that showed the most job openings in two years. On Friday, the non-farm payrolls report will be closely watched and we're also awaiting commentary from Fed Chair Kevin Warsh, who has been quiet since joining the Board.In terms of economically-sensitive stocks, Citigroup is a leader today, up 3.0% and the XLF financials ETF is up 2.4%.Notable earnings after the close include Lululemon and DocuSign. This article was written by Adam Button at investinglive.com.