Live Nasdaq Composite: Tech Sees Green on Mideast Peace Hopes
Quick Read
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Stocks: Tesla (TSLA), ASML (ASML), and Micron (MU) each gained 1-5% as big tech rallies amid a potential Iran ceasefire announcement, with Microsoft committing $5.5 billion to Singapore for cloud and AI infrastructure expansion.
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Market sentiment turned positive after President Trump signaled willingness to consider Iran’s ceasefire request, while stronger-than-expected retail sales and private sector job growth provided additional support for equities.
Live Updates
Market Gains Hold
The markets are holding onto their gains across the major indices:
Dow Jones Industrial Average: 46,752 Up 0.89%
Nasdaq: 21,964 Up 1.73%
S&P 500 6,602 Up 1.13%
Market Gainers
Here are some of the top stocks contributing to today’s overall gains:
Sandisk Corp (Nasdaq: SNDK) is soaring by 10%.
Lumentum Holdings (Nasdaq: LITE) is up 9.2%.
Intel (Nasdaq: INTC) is up about 10% too alongside broader gains in the chip sector today.
Nike Reaction
Nike (NYSE: NKE) is getting hit from all sides on Wall Street. Bank of America downgraded the sneaker giant to a “neutral” rating while slashing its price target to $55, as Wells Fargo, Piper Sandler, and Truist all trimmed their targets to a range of $55 to $60, even as they held onto their bullish ratings.
This article will be updated throughout the day, so check back often for more daily updates.
Markets got a jolt of optimism this morning after President Trump posted on social media that Iran’s new regime president has asked the U.S. for a ceasefire, with Trump signaling he’d consider it once the Strait of Hormuz is open and clear. All three of the major stock market averages are higher, including a nearly 1% gain in the Nasdaq Composite. Oil prices are falling but WTI and Brent Crude still remain above $100 per barrel.
On the economic front, private sector jobs surprised to the upside last month. ADP’s March non-farm employment report came in at 62K, blowing past estimates, though it remained just shy of February’s revised reading. Education, healthcare and construction jobs were the biggest contributors. Meanwhile, American consumers are holding up better than expected. Retail sales rose 0.6% in February, surpassing the 0.5% estimate.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 46,639 Up 0.64%
Nasdaq Composite: 21,818 Up 1.06%
S&P 500: 6,572 Up 0.69%
Market Movers
Big Tech stocks are out front, including Tesla (Nasdaq: TSLA | TSLA Price Prediction), ASML Holding (Nasdaq: ASML) and Micron (Nasdaq: MU), each of which is tacking on between 1%-5% this morning. Iran has warned that Big Tech companies have a target on their backs by the country’s Revolutionary Guard, in particular Nvidia (Nasdaq: NVDA), Microsoft (Nasdaq: MSFT), Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOGL). Nevertheless, tech is marching forward today.
Microsoft is making a major bet on Asia. The company is committing $5.5 billion to Singapore through 2029 to expand its cloud and AI infrastructure, deepening its foothold in one of the region’s most strategically important tech hubs, per Bloomberg.
Visa (NYSE: V) is bringing AI to one of consumers’ biggest pain points; the company is rolling out six new tools to modernize and streamline the credit card dispute process, per CNBC.
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.
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