Live Nasdaq Composite: Tech Pulls Back While Oil Breaks $100 on Strait Tensions

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

Oil markets are surging as fears of an imminent closure of the Strait of Hormuz ripple through global trade routes, sending stocks lower and energy prices sharply higher. WTI crude has pushed back above the $100 mark, climbing 7.35% at last check, as traders price in potential supply disruptions through one of the world’s most critical oil corridors. The U.S. has signaled the opening of alternative shipping ports and access to domestic fossil fuel production to help offset the shock. All three of the major stock market averages kicked off the week in the red.

Nevertheless, Wall Street firms are increasingly indicating stocks may have reached a bottom. Most recently, Morgan Stanley has turned cautiously bullish, declaring the S&P 500 correction is nearly over after the index rebounded roughly 7% from its lows and held key support levels.

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

Dow Jones Industrial Average: 47,541 Down 0.78%
Nasdaq Composite: 22,824 Down 0.34%
S&P 500: 6,794 Down 0.31%

Market Movers

Microsoft (Nasdaq: MSFT | MSFT Price Prediction) is pushing Copilot further into the workday. The tech giant is developing always-on AI agents inspired by OpenClaw that could work across Microsoft 365 apps around the clock. Separately, Intel (Nasdaq: INTC) just posted its best weekly performance since 2000, per Bloomberg. According to MarketWatch data, INTC stock gained 26.5%in the past five trading sessions.

The U.S. government has chosen Alma Semiconductor (Nasdaq: ALMU) for a $4 million-plus push for its semiconductor platform  for quantum and high-speed datacom applications. Quantum dot lasers and quantum nonlinear materials are at the center of the work, and Tower Semiconductor (Nasdaq: TSEM) is on board as a manufacturing partner.

Amazon (Nasdaq: AMZN) is further disrupting the online car sales landscape, expanding its auto business to include vehicles from Chevy, Jeep, Kia, Mazda and Subaru, per the WSJ.

Michael Saylor and Strategy (Nasdaq: MSTR) dropped $1 billion for another 13,927 Bitcoin last week, paying an average price of roughly $71,902 a coin. The firm’s total haul now sits at 780,897 Bitcoin, representing 3.72% of the cryptocurrency’s entire fixed supply, purchased at an average cost of about $75,577 per coin.

McDonald’s (NYSE: MCD) is expanding its drinks menu at U.S. restaurants later this year, adding energy drinks and crafted sodas to the menu including a Red Bull Dragonberry Energizer, a Dirty Dr Pepper, and a Mango Pineapple Refresher.