The Nasdaq Composite (^IXIC) opened higher Tuesday, with the tech-heavy benchmark riding a familiar trio of tailwinds: a fresh wave of strong earnings, a sharp pullback in crude oil, and a pause in Middle East escalation. Risk appetite is back, and the Nasdaq Composite (^IXIC) is riding the bullish wave. Google parent company Alphabet (Nasdaq: GOOGL), Intel (Nasdaq: INTC) and Microsoft (Nasdaq: MSFT) are rising tides lifting the Nasdaq Composite higher today. Intel stock is skyrocketing by 12% to a fresh all-time high. Also, Micron Technology (Nasdaq; MU) is a positive catalyst, with the share price trading above $600 for a 10% gain on the day.
WTI crude has dropped to about $100, well off the $114.58 peak on April 7, easing inflation pressure that had been weighing on long-duration tech multiples. Defense Secretary Pete Hegseth and Gen. Dan Caine confirmed the fragile cease-fire is intact, characterizing recent Iranian provocations as below the threshold for renewed conflict. The VIX sits at almost 17, down from a March peak near 31, while the 10-year Treasury holds near 4.4%. Meanwhile, the 30-year Treasury yield topped 5% on Monday.
Big Tech earnings keep doing the heavy lifting
Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) is leading the index higher, climbing almost 2% to around $390 after last week’s blowout: revenue of $109.9 billion, EPS of $5.11, and Google Cloud growth of 63% with backlog nearly doubling to over $460 billion.
Microsoft (NASDAQ:MSFT) is roughly flat near $412 as investors digest fiscal Q3 revenue of $82.9 billion and an AI run rate that crossed $37 billion, up 123% year over year.
Both companies also signed onto an agreement giving the U.S. government’s Center for AI Standards and Innovation early access to evaluate frontier models, alongside xAI, joining OpenAI and Anthropic in the program.
PayPal (Nasdaq: PYPL) is a drag, plummeting 10.2% after reporting earnings. While the top and bottom lines beat estimates, the payments company’s guidance was weak and the stock is being punished for it.
Movers under the surface
Pinterest (NYSE:PINS) is the standout, rallying nearly 11% after a double-digit sales beat and bullish Q2 guide.
Palantir (NASDAQ:PLTR) is the exception, slipping about 3% to around $141 despite a Q1 beat and Rosenblatt lifting its target to $225 from $200. The disconnect is classic high-multiple exhaustion: the quarter was strong, but expectations were stronger.
What to watch
The Nasdaq’s leadership is real but narrow, leaning on a handful of mega-cap AI winners. Watch the 30-year Treasury yield, which pierced 5% yesterday, and any wobble in the Strait of Hormuz. If oil stays below $100 and the cease-fire holds into next week’s earnings, the path of least resistance for the Composite remains higher.
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