Live Nasdaq Composite: TSLA, NVDA Lead Market Rebound

The markets are in rebound mode after a better-than-expected inflation report. Technology stocks are the tide lifting most boats, sending the Nasdaq Composite and S&P 500 higher while the Dow Jones Industrial Average has erased earlier gains. February’s CPI rate climbed 0.2% to 2.8%, results that were better than expected, helping to lift the market mood. The relief could not come too soon given the fears that have been sparked around the tariff war.

Nvidia (Nasdaq: NVDA) and Tesla (Nasdaq: TSLA) led the tech sector higher with gains of 6.4% and 7%, respectively. Tesla’s gains come on the heels of yesterday’s ringing endorsement from President Trump and a commitment from Elon Musk to bolster U.S. production of the EVs over the next couple of years. Tesla’s stock has been recapturing some lost ground, rising 10% so far this week. The latest gains sent Tesla’s market cap back above the $800 billion threshold before pulling back somewhat.

The Magnificent Seven cohort is trading mostly higher despite a note out of Goldman Sachs citing weakness in these names as its reason for slashing its S&P 500 forecast to 6,200.

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

Dow Jones Industrial Average: Down 137.19 (-0.31%)
Nasdaq Composite: Up 232.23 (+1.33%)
S&P 500: Up 20.29 (+0.35)

Market Movers

Super Micro Computer (Nasdaq: SMCI) is among the top performers of the day, extending yesterday’s gains and rising 8% on the day. Semiconductor stock Micron Technology (Nasdaq: MU) is another winner, rising 7.3%. Both stocks are helping to buoy the S&P 500 index.

Airlines are falling on a report that Boeing (NYSE: BA) aircraft prices could soar as a result of the tariffs. Boeing stock is up fractionally while United Air Lines (Nasdaq: UAL) and Delta Airlines (NYSE: DAL) are falling 4.6% and 3.7%, respectively.

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