Live S&P 500 (NYSEARCA: SPY): Optimism Returns to Markets in Wining Week
Live Updates Live Coverage Updates appear automatically as they are published. Bullish on Tech 10:21 am by Gerelyn Terzo Bank of America is adopting a more optimistic stance on major technology players, particularly highlighting Nvidia and AMD, bolstered by potential Saudi Arabian investments following President Trump’s visit. BofA analyst Vivek Arya has significantly increased his […] The post Live S&P 500 (NYSEARCA: SPY): Optimism Returns to Markets in Wining Week appeared first on 24/7 Wall St..
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Bullish on Tech
Bank of America is adopting a more optimistic stance on major technology players, particularly highlighting Nvidia and AMD, bolstered by potential Saudi Arabian investments following President Trump’s visit. BofA analyst Vivek Arya has significantly increased his price target for Nvidia shares to $160, suggesting a 20% potential gain. The analyst also revised his outlook for AMD, raising the stock’s price target to $130, saying:
“Sovereign AI nicely complements commercial cloud investments with a focus on training and inference of LLMs in local culture, language and needs.”
This article will be updated throughout the day, so check back often for more daily updates.
The markets came out of the gate with gains but have since come off their best levels of the day despite overall optimism. The S&P 500, having overcome year-to-date losses, is now showing positive returns for 2025. Bolstered by trade optimism stemming from U.S.-China developments and increasing confidence in avoiding a recession, markets are looking to capitalize on their current momentum. The SPY ETF is trading flat as of mid-morning.
Riding a five-day wave of gains, the Nasdaq Composite aims to continue its upward trajectory. The Nasdaq is also poised to welcome a new player to its ranks. Fintech innovator Chime has announced its decision to go public and will list its shares on the exchange. The Dow Jones Industrial Average is getting a boost from Boeing (NYSE: BA), which reportedly made a $200 billion deal with country Qatar amid the Trump administration’s visit.
President Trump’s recent visit to Saudi Arabia has yielded significant economic commitments. The Kingdom has pledged up to $600 billion in deals and investments, with U.S. companies expected to be major beneficiaries. Notably, Nvidia (Nasdaq: NVDA) will supply thousands of AI chips to Saudi Arabia, and Elon Musk’s Starlink has received approval to operate within the country.
Here’s the market snapshot from morning trading:
Dow Jones Industrial Average: Up 54.47 (+0.15%)
Nasdaq Composite: Up 66.22 (+0.37%)
S&P 500: Up 3.91 (+0.08%)
Market Movers
Costco (Nasdaq: COST) and Affirm (Nasdaq: AFRM) have forged a partnership to offer buy now, pay later options for bulk purchases. COST stock is trading slightly higher, while AFRM shares have jumped over 3% this morning.
Server manufacturer Super Micro Computer (Nasdaq: SMCI) continues its impressive climb, surging nearly 16% today.
Palantir Technologies (Nasdaq: PLTR) is also on the rise, gaining 2.7% and approaching its record high once again.
Advanced Micro Devices (Nasdaq: AMD) is a significant gainer, up 8.6% as the chip sector enjoys tailwinds from eased tariff concerns. Adding to the positive sentiment, AMD has announced a substantial $6 billion stock repurchase program.
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