As of midday, the S&P 500 (SNPINDEX:^GSPC) rose 0.34% to 7,424.04, the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.38% to 26,346.51. The Dow Jones Industrial Average (DJINDICES:^DJI) was barely changed, falling 0.01% to 49,604.50 as oil’s latest spike tempered AI‑driven optimism.
Market movers
Chip leaders, including Nvidia and Intel, extended their AI‑driven rally. Qualcomm surged on an analyst upgrade, and Micron Technology continued to rise. Demand for AI memory has analysts talking about a sector supercycle.
Biotech name Moderna jumped in early trading as investors look to its early hantavirus research. The stock has gained more than 15% in the past five days. Circle Internet Group soared on optimism about stablecoins.
What this means for investors
Chipmakers continued to push upwards this morning, supporting gains for the S&P 500 and Nasdaq despite growing concerns about global oil supply disruption and stalled U.S.-Iran negotiations. Analysts at top investment banks, including Morgan Stanley, emphasized the importance of reopening the Strait of Hormuz before June. Oil prices jumped almost 3%, and WTI crude was trading at $98 a barrel at midday.
Some view the incredible rally in artificial intelligence (AI) and chipmaker stocks as a sign of resilience, while others see it as a red flag. Commentators warn that growth driven by ultra‑concentrated equity leadership could mean major indexes are vulnerable if AI spending slows. Diversification and long-term focus remain key as investors navigate both geopolitical and bubble warnings.
Should you buy stock in S&P 500 Index right now?
Before you buy stock in S&P 500 Index, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and S&P 500 Index wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $471,827!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,319,291!*
Now, it’s worth noting Stock Advisor’s total average return is 986% — a market-crushing outperformance compared to 207% for the S&P 500. Don’t miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of May 11, 2026.
