Live Coverage Has Ended

Live Nasdaq Composite: Tech Stocks Out Front in FOMO Trade as Strait of Hormuz Reopens

By Gerelyn Terzo Updated Apr 17, 12:48PM EDT · Published Apr 17, 10:20AM EDT

Quick Read

Intel (INTC) is up nearly 2% as it approaches the $70-per-share level amid broad market gains; meanwhile, Morgan Stanley elevated UnitedHealth (UNH) to Top Pick based on expectations for sustained clean quarters, while Polestar (PSNY) swung to a $2.36 billion net loss in 2025, its worst annual loss ever.
Markets are advancing on ceasefire hopes in the Middle East, with the U.S. weighing a proposal to unfreeze $20 billion in Iranian funds in exchange for uranium surrender as part of broader peace negotiations.

Live Updates

Record Turf

Apr 17, 2026 at 12:48 PM EDT

Markets surged to record territory on Friday, with the S&P 500 crossing 7,100 for the first time ever while the Nasdaq Composite also touched on fresh all-time high levels.

The Dow added more than 1,000 points, or 2.1%, while the S&P 500 climbed 1.3%, the Nasdaq gained 1.5%, and the small-cap Russell 2000 rose 2% in a multi-record smashing session.

The spark came from the Middle East, where Iran declared the Strait of Hormuz fully open to commercial shipping under the terms of the ceasefire. The announcement sent crude oil tumbling roughly 10%, with Brent falling close to 9%.

President Trump added to the optimism, saying that most terms of a broader Iran agreement are already on the table and that a final deal should come together quickly.

For the week, the Nasdaq leads with a 6% advance, the S&P 500 is tacking on 4%, and the Dow rounds out the scoreboard with a 3% weekly gain.

Tech Turnaround

Apr 17, 2026 at 10:54 AM EDT

Big Tech stocks are poised to close out a landmark week on Friday, with Oracle, Advanced Micro Devices, and Microsoft all headed toward historic milestones.

Oracle leads the pack with a 32% weekly gain, its strongest such stretch since October 1999, after the company bolstered its AI data center power agreement with Bloom Energy, adding 1.2 gigawatts of capacity to the deal. Oracle also secured a warrant last week to buy $400 million worth of Bloom shares.

AMD is up 13% on the week and touched an all-time high Thursday, capping a 12-day consecutive winning streak, its longest in over two decades, during which the stock climbed more than 40%.

Microsoft has gained more than 14% this week, putting it on pace for its best weekly performance since April 2015.

Tesla is also riding the wave, up 14% after CEO Elon Musk announced Wednesday that the company had hit a significant milestone with its AI5 chip.

FOMO Fuels Market Rally

Apr 17, 2026 at 10:20 AM EDT

Fear of missing out is fueling the rally, with Barclays pointing to FOMO as a key driver behind stocks pushing to new highs. U.S. and tech shares are leading the charge, even as oil and bond markets flash caution. With many funds still sitting on the sidelines, Barclays warns the market may be getting ahead of itself on optimism.

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

The markets are advancing out of the gate on reports that the end of the Mideast conflict is within sight. President Trump has signaled that the war will be over “pretty soon,” while Iran has reopened the critical Strait of Hormuz for oil shipments. All three of the major stock market averages are rising, including a 1.1% gain in the Nasdaq Composite. Intel (Nasdaq; INTC) is a boost, tacking on nearly 2% as it touches on the key $70-per-share level.

While a deal remains far from etched in stock, the U.S. is weighing a proposal to unfreeze $20 billion in Iranian funds in exchange for Tehran surrendering its enriched uranium stockpile, according to Axios. The plan remains on the negotiating table as part of a broader draft deal.

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

Dow Jones Industrial Average: 49,337 Up 1.55%
Nasdaq Composite: 24,353.40 Up 1.04%
S&P 500: 7,105.21 Up 1.53%

Market Movers

Netflix (Nasdaq: NFLX) is a drag, sinking 9.4% on the heels of its earnings print. The content streaming giant’s Q1 beat estimates but its Q2 outlook fell short of Wall Street expectations. Co-founder Reed Hastings is stepping down from the company’s board of directors.

Morgan Stanley is backing UnitedHealth (NYSE: UNH) with conviction, elevating the health insurance giant to Top Pick. The move isn’t a bet on any single quarter but on what the analysts predict will be “a string of clean quarters that should drive incremental enthusiasm.”

Polestar (Nasdaq: PSNY) just posted its worst annual loss ever, swinging to a $2.36 billion net loss in 2025, wider than the $2.05 billion it lost the year prior and marking the EV maker’s deepest financial hole yet.

While corporate America has been busy cutting staff, Boeing (NYSE: BA) is doing the opposite, bringing on 100 to 140 factory workers per week, the fastest hiring pace the aerospace giant has seen since 2024, according to Reuters.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

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.