Live Nasdaq Composite: Markets Hopeful Amid Deescalating Mideast Tensions

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10:09 am by Gerelyn Terzo

Chip stock Advanced Micro Devices (Nasdaq: AMD) is gaining 6% this morning.

Chipotle Mexican Grill (NYSE: CMG) is up 4.4%.

Halliburton (NYSE: HAL) is falling 2.3% alongside a declining oil price. ConocoPhillips (NYSE: COP) is similarly down 2%.

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

The markets are seeing the glass half full today and are higher across the board amid expectations that the Middle East unrest won’t escalate further. This expectation has caused the price of WTI oil to pull back after rallying on Friday, though it continues to hover above the $71 per barrel level. All three of the stock market averages are gaining ground, including a 0.79% advance in the Nasdaq Composite. All sectors of the economy are seeing green, led by a 1.1% gain in technology. Each of the Magnificent Seven stocks is seeing green today, led by a 2% jump in Meta Platforms (Nasdaq: META), which has plans to introduce ads to its WhatsApp platform.

This week, all eyes are on the Federal Reserve ahead of the FOMC’s two-day meeting on the near-term fate of interest rates. President Trump has been pressuring Fed Chairman Jerome Powell to pull the trigger on lower rates, and cooling inflation data could sway policymakers to do just that. Nevertheless, Wells Fargo economists predict the Fed will leave rates unchanged amid what they described as a “holding pattern.”

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 239.00 (+0.56%)
Nasdaq Composite: Up 171.75 (+0.79%)
S&P 500: Up 37.00 (+0.61%)

Market Movers

Quantum computing stocks remain in focus after the recent endorsement by Nvidia CEO Jensen Huang. Most recently, Roth Capital has lifted its price target on D-Wave Quantum (Nasdaq: QBTS) by $6 to $18 per share, keeping its “buy” rating on the stock, citing greater revenue potential. QBTS is nearing its all-time high share price of over $19 per share.

U.S. Steel is up 5% today after President Trump officially greenlighted its blockbuster $14.9 billion merger with Nippon Steel.

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