The S&P 500 (^GSPC +1.08%) rose 1.08% to 7,432.97, the Nasdaq Composite (^IXIC +1.54%) gained 1.54% to 26,270.36, and the Dow Jones Industrial Average (^DJI +1.31%) advanced 1.31% to 50,009.34 as falling oil and easing yields buoyed markets.
Market movers
AI hardware leaders lead the gainers, with AMD and Super Micro Computer climbing on renewed confidence. Nvidia increased 1.3% ahead of its post-close earnings, but the stock slipped in after-hours trading.
Software bellwethers such as Salesforce and cybersecurity name CrowdStrike recovered some ground. Hasbro fell by almost 9% despite an earnings beat as the gaming company remained cautious on its full-year guidance.
What this means for investors
After three straight days of declines, the S&P 500 gained today on hopes that an end to the U.S.-Iran war could be in sight. WTI crude fell 5% to $99 a barrel, and 10-year Treasury yields eased. The challenge for investors is that there have been several headline-driven waves of optimism since the conflict began at the end of February, and negotiations have not yet borne fruit. Once a deal is done, it will take time for oil supplies to return to normal.
Anticipation about Nvidia’s earnings dominated sentiment today as traders looked to the artificial intelligence (AI) bellwether for signs that the rally in this booming sector has further to run. The firm beat analyst estimates but the initial reaction was muted, potentially because investors had hoped for a higher sales forecast.
Emma Newbery has positions in CrowdStrike and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, CrowdStrike, Micron Technology, Nvidia, and Salesforce. The Motley Fool recommends Hasbro. The Motley Fool has a disclosure policy.
