Live Nasdaq Composite: Markets Await Oil’s Direction amid Ceasefire Hopes
Quick Read
-
Meta (META), Broadcom (AVGO), and Tesla (TSLA) keep the Nasdaq afloat; Oracle (ORCL) down 1% ahead of earnings; Nvidia (NVDA) CEO describes AI as “five layer cake.”
-
Markets tread cautiously as oil prices retreat from recent highs, with Brent crude falling from $120/barrel to $92/barrel on Iran war de-escalation headlines.
Live Updates
Stock Market Gainers
Vertex Pharma (Nasdaq: VRTX) is up 8.3% on the day.
Ciena Corp (NYSE: CIEN) is tacking on 8.4%.
Sandisk (Nasdaq: SNDK) stock is adding 7% amid its attractive AI data center solution industry positioning.
All three of the major stock market averages are now trading in the green, including a 0.75% gain in the Nasdaq Composite.
Rivian Revs Up
TD Cowen analysts are bullish on Rivian Auto (Nasdaq; RIVN) stock, lifting shares from a “hold” to a “buy” rating with a $20 price target. The stock soared by 7% in response.
Housing Market
Existing home sales in the U.S. rose 1.7% in February compared with the prior month, defying expectations for a 0.8% decline and suggesting housing demand remains strong despite high borrowing costs. Meanwhile, the median price for existing homes edged up to $398,000, a 0.3% increase year-over-year.
This article will be updated throughout the day, so check back often for more daily updates.
After roaring back in yesterday’s sessions on headlines that the Iran war could be over sooner than expected, the markets are watching and waiting to see what oil will do to today. While all three of the stock market averages are treading lightly, oil has been falling for the most part. The Brent Crude oil price has retreated from the $120/barrel area back down to $92 per barrel while WTI is hovering below the $90/barrel threshold, though price movements remain extremely headline sensitive.
Tech majors including Meta Platforms (Nasdaq: META), Broadcom (Nasdaq: AVGO and Tesla (Nasdaq: TSLA) are keeping the Nasdaq Composite afloat this morning. Meta scooped up an AI-agent-powered social media platform called Moltbook.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 47,503.34 Down 237.46 (-0.50%)
Nasdaq Composite: 22,674.01 Down 31.93 (-0.14%)
S&P 500: 6,768.69 Down 27.30 (-0.38%)
Tech Talk
Oracle (Nasdaq; ORCL) is down 1% ahead of the company’s earnings report after the market close today. Investors will be watching and listening for any progress around the company’s massive AI-powered data center plans, particularly for OpenAI after a partnership expansion between the companies hit a snag in recent days.
Back to technology, Nvidia (Nasdaq: NVDA) CEO Jensen Huang, who is set to address the industry at next week’s company event, described AI as a “five layer cake,” one that extends to energy, chips, infrastructure, models and applications – aka software. Separately, reports indicate Nvidia is backing AI startup Thinking Machines Lab, with its super chips powering the company’s AI models.
According to reports, SpaceX, Elon Musk’s other company, is eyeing the Nasdaq for a future public listing in what could be the blockbuster new issue of the century. Speaking of Nasdaq, the trading platform has partnered with crypto exchange Kraken for a tokenized asset push.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
© afotostock / Shutterstock.com
Top Gaining Stocks
Top Losing Stocks