Live Nasdaq Composite: AAPL, PLTR Jump Over 5% in Tech Buying Spree
Live Updates Live Coverage Updates appear automatically as they are published. Markets Hold Onto Gains 8:18 am by Gerelyn Terzo The markets are holding their gains, with all three of the major stock market averages trading decidedly higher. The Nasdaq Composite is up by 1.5%, fueled by gains in Big Tech including Apple (Nasdaq: AAPL), […] The post Live Nasdaq Composite: AAPL, PLTR Jump Over 5% in Tech Buying Spree appeared first on 24/7 Wall St..
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Markets Hold Onto Gains
The markets are holding their gains, with all three of the major stock market averages trading decidedly higher. The Nasdaq Composite is up by 1.5%, fueled by gains in Big Tech including Apple (Nasdaq: AAPL), which is rallying on a tariff exemption implemented by President Trump on pockets of technology. Goldman Sachs CEO David Solomon, whose firm just reported a standout quarter, believes the chances of an economic recession have increased, but the markets are choosing to focus on the positive, at least for now.
While the markets are by no means stable, they are continuing to push higher after last week’s tariff reprieve, except for China. After finishing last week in the winning column, stocks are extending their gains, with all three of the major stock market averages higher between 1% and 2% out of the gate. While the Nasdaq Composite is gaining 2% today, it’s down nearly 12% year to date. Tech stocks are in the spotlight after the Trump administration attached tariff exemptions to white-hot pockets of tech, sending stocks like Apple (Nasdaq: AAPL) rising by 5.6%.
All sectors of the economy are trading in the green, led by technology with a 2.2% rise. While there’s still uncertainty surrounding how long the tariff relief will last, the markets are seeing the glass half full today despite a warning from Goldman Sachs CEO David Solomon that the likelihood of an economic recession has increased.
Goldman Sachs (NYSE: GS) reported strong quarterly earnings on robust equities trading volume, adding to the positive momentum.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 545.00 (+1.3%)
Nasdaq Composite: Up 409.00 (+2.17%)
S&P 500: Up 98.50 (+1.83%)
Market Movers
Palantir Technologies (Nasdaq: PLTR) is rising 5.8% at last check after reports that NATO scooped up AI military software solutions from the company. In what is considered to have been a quick deal, NATO acquired the AI and Machine Learning large language models to strengthen its defense technology infrastructure.
KeyBanc analysts upgraded AAPL shares on the heels of the tariff reprieve to “sector weight” from “underweight” with a $170 price target attached, reflecting upside potential of approximately 14% from last week’s close. Apple’s market cap has reclaimed the $3 trillion-plus level in the rally.
Chip stocks are also benefiting, including Intel (Nasdaq: INTC), with a 3% gain, as well as AMD (Nasdaq: AMD), which is up 1.6% this morning. Micron Tech (Nasdaq: MU) is gaining nearly 5% on the day.
Hotel stock Marriott (Nasdaq: MAR) is a loser, falling as much as 1.1% this morning.
The post Live Nasdaq Composite: AAPL, PLTR Jump Over 5% in Tech Buying Spree appeared first on 24/7 Wall St..