The S&P 500 (^GSPC +1.02%) rose 1.02% to 6,886.24, and the Nasdaq Composite (^IXIC +1.23%) climbed 1.23% to 23,183.74 on tech strength. The Dow Jones Industrial Average (^DJI +0.63%) added 0.63% to 48,218.25 as stocks pushed upwards despite ongoing geopolitical tensions.
Market movers
Oracle (ORCL +12.74%) soared today after it touted the benefits of its utilities-focused artificial intelligence (AI) Opower platform at its Customer Edge Summit in Texas. Dell Technologies (DELL +6.75%) and HP (HPQ +5.31%) gained on acquisition speculation.
Goldman Sachs Group (GS 1.83%) slipped despite strong Q1 earnings, beating estimates on EPS and revenue. It is the first of the major banks to report this week, and war-driven caution may be a factor in the stock’s decline.
What this means for investors
Failed U.S.-Iran peace talks over the weekend didn’t stop major indexes from finishing in the green today. The ceasefire remains in place but WTI Crude pushed back up above $100 a barrel before falling to finish at about $98. The all-important Strait of Hormuz remains mostly closed, and the impact of a U.S. blockade on the crucial waterway is unclear.
Software stocks got a boost, helped by Friday’s note from Goldman Sachs highlighting a possible value opportunity. AI replacement fears have hammered the sector in recent months.
For investors looking to navigate the geopolitical uncertainty, the upcoming earnings season will be key. Energy disruptions are likely to continue, making it important to maintain a diversified portfolio and carefully weigh the pros and cons of any dip-buying.
Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group, HP, and Oracle. The Motley Fool has a disclosure policy.
