Live S&P 500 (NYSEARCA: SPY): DELL, INTC Soar in Market Comeback
Live Updates Live Coverage Updates appear automatically as they are published. Relief Rally 9:06 am by Gerelyn Terzo Technology stocks are leading the markets higher, including a 1.5% gain in the S&P 500, extending Friday’s market rally. The Dow Jones Industrial Average and Nasdaq Composite are both higher by over 1% as well, the catalyst […] The post Live S&P 500 (NYSEARCA: SPY): DELL, INTC Soar in Market Comeback appeared first on 24/7 Wall St..
Live Updates
Relief Rally
Technology stocks are leading the markets higher, including a 1.5% gain in the S&P 500, extending Friday’s market rally. The Dow Jones Industrial Average and Nasdaq Composite are both higher by over 1% as well, the catalyst for which is tariff exemptions for certain technology products.
Goldman Sachs reported a strong quarter today but CEO David Solomon cautioned of an impending economic recession. All sectors of the economy are seeing green today, from consumer discretionary to financials to real estate and technology.
The markets are in relief rally mode, sending all three of the major stock market averages higher by over 1%. Tacking onto last week’s gains, the S&P 500 is up 1.5% on the day, buoyed by technology stocks including Dell (Nasdaq: DELL), Intel (Nasdaq: INTC) and Palantir (Nasdaq: PLTR). Chief among the positive catalysts is a tariff exemption on pockets of technology implemented by President Trump, lifting the market mood. All sectors of the economy are in the green today, led by technology stocks with a 2.1% advance and real estate up 1.9%.
Goldman Sachs reported a record quarter on robust equities trading volume, but CEO David Solomon warned that the likelihood of an economic recession rearing its head has increased.
PC maker Dell Technologies is a big gainer in the S&P 500 today, rising as much as 8% on the tariff escape. Dell is trading below the $90 threshold compared with a 52-week high of $179.00. Chip stocks are also moving higher, led by Intel, which is tacking on 5.3% and helping to lift the S&P 500 index today.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 474.09 (+1.1%)
Nasdaq Composite: Up 305.77 (+1.8%)
S&P 500: Up 82.39 (+1.5%)
Market Movers
Not all stocks are participating in today’s rally. DaVita (NYSE: DVA) is falling 3.4% after a ransomware attack infiltrated its operations.
Healthcare stock Humana (NYSE: HUM) is down 2.7% while UnitedHealth Group (NYSE: UNH) is down 2%.
Elsewhere, Bank of America has reiterated its buy ratings on Nvidia (Nasdaq; NVDA) and Broadcom (Nasdaq: AVGO), saying that Nvidia is shielded from the tariff wars thanks to its large U.S. footprint. Nvidia has committed to producing AI supercomputers in the USA.
Consumer stock Estee Lauder (NYSE: EL) is gaining nearly 6% today, helping to power the S&P 500 higher following a steep sell-off in the stock due to the tariffs.
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