Live Nasdaq Composite: Fear Hits Markets as US Raises Stakes in Mideast Standoff

By Gerelyn Terzo Updated Apr 7, 12:55PM EDT · Published Apr 7, 9:58AM EDT

Quick Read

Broadcom (AVGO) gained 3% after securing Google and Anthropic as AI chip customers. Invesco QQQ (QQQ) faces new competition as BlackRock and State Street prepare to launch their own Nasdaq 100 ETFs. Humana (HUM) and UnitedHealth (UNH) rose on higher Medicare reimbursement rates.
Trump’s 8pm ET ultimatum to Iran over the Strait of Hormuz has driven oil prices to $115 WTI and $110 Brent, pressuring stocks while UBS cut its S&P 500 year-end target to 7,500 citing sustained inflation and delayed Fed rate cuts.

Live Updates

AI Spending Spree

Apr 7, 2026 at 12:55 PM EDT

OpenAI and Anthropic are both projected to dramatically ramp up model training spending through the end of the decade, with OpenAI alone expecting to direct $121 billion toward AI research compute by 2028, according to the WSJ.

Defense Tailwinds

Apr 7, 2026 at 11:27 AM EDT

Bernstein, a research JV between SocGen and AllianceBernstein, view Trump’s proposed $1.5 trillion defense budget as a tailwind for defense stocks…if it makes it across the finish line. The firm is forecasting 101% growth in overall spending and a 63% jump in R&D, driven by a surge in space, shipbuilding, and missile activity.

Labor Market Finds Footing

Apr 7, 2026 at 9:56 AM EDT

U.S. private employers added an average of 26,000 jobs per week in the four weeks ending March 21st, marking the third straight week of improvement, according to ADP.

This article will be updated throughout the day, so check back often for more daily updates.

President Trump has placed an 8pm ET deadline on Iran to reopen the Strait of Hormuz or its bridges and utility plants would be bombed. In response to the escalated tensions, oil prices are rising, with WTI Crude and Brent Crude hovering at around $115 and $110, respectively. All three of the major stock market averages are under pressure, including the Nasdaq Composite, which is being led lower by the likes of ASML Holding (Nasdaq: ASML) and Tesla (Nasdaq: TSLA).

The Invesco QQQ (Nasdaq: QQQ | QQQ Price Prediction) is about to get some heavyweight competition. Both BlackRock and State Street are preparing to launch their own Nasdaq 100 ETFs, targeting one of the most popular funds on Wall Street.

Wall Street firm UBS is less optimistic on U.S. stocks, trimming its year-end S&P 500 target to 7,500 from 7,700 and its mid-year call to 7,000 from 7,300. The firm is blaming the Iran war as a force that could keep oil prices high, drag on growth, and push Fed rate cuts further down the road.

Here’s a look at where things stand as of morning trading:

Dow Jones Industrial Average: 46,361 Down 0.66%
Nasdaq Composite: 21,849 Down 0.65%
S&P 500: 6,574 Down 0.53%

Market Movers

Broadcom (Nasdaq: AVGO) is tacking on 3% today after signing on Google (Nasdaq: GOOGL) and Anthropic for its AI chips.

Intel (Nasdaq: INTC) is jumping on the the innovation bandwagon, joining the Terafab project alongside SpaceX, xAI and Tesla to bolster silicon fabrication for AI and robotics.

Elon Musk’s SpaceX will reportedly target a valuation of $1.75 trillion, setting out on its investor roadshow in early June.

Dividend stock Hershey (NYSE: HSY) , which has been accused of using a chocolate substitute by the Reese’s family, is trying to make things right. The company has promised to switch to real chocolate in all its products (eventually) alongside the introduction of two new products, Reese’s Marshmallow Cup and Reese’s Strawberry PB&J Cup.

Delta (NYSE: DAL) is raising baggage fees for passengers again, and the stock is down 1% today.

Insurance stocks are rising, including the likes of Humana (NYSE: HUM), up 6%, and UnitedHealth (NYSE: UNH) thanks to higher Medicare payments.

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About the Author Gerelyn Terzo →

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.