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Live Nasdaq Composite: TSLA, NVDA Lead Market Rebound
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Key Points
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The Nasdaq Composite and S&P 500 are holding onto gains while the Dow Jones Industrial Average has slipped into the red.
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Technology stocks Tesla and Nvidia are driving market gains.
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A better-than-expected February CPI report is helping to offset tariff fears.
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Tech Stocks Retake Lost Ground
Stocks finished the day mixed. While the Nasdaq Composite and S&P 500 were able to keep their grip on gains, the Dow Jones Industrial Average succumbed to selling.
Dow Jones Industrial Average: Down 82.55 (-0.20%)
Nasdaq Composite: Up 212.36 (+1.22%)
S&P 500: Up 27.23 (+0.49%)
Intel (Nasdaq: INTC) was the stock of the day. The company named seasoned semiconductor executive Lip-Bu Tan as its new boss, sending the stock up more than 10% in after-hours trading.
Most of the Mag 7 stocks were positive with the exception of Apple’s (Nasdaq: AAPL) 1.7% drop.
iRobot (Nasdaq: IRBT), which is behind the Roomba, lost 35% on the day owing to questions about its near-term future.
Markets Hold Steady
Stocks have made their way decidedly into the green, with each of the three major stock market indexes holding onto earlier gains. The Nasdaq Composite is leading the way with a 1.5% advance, powered by Tesla (Nasdaq: TSLA) with a 8.3% gain, Broadcom (Nasdaq: AVGO) up 3.20%, and Nvidia (Nasdaq: NVDA) advancing 6.5%. Most sectors are flashing green, the biggest exception of which being consumer staples with a 1.5% decline on the day.
Individual stocks making moves today include:
Procter & Gamble (NYSE: PG) is down 2.7%.
Intel (Nasdaq: INTC) up 4.5%.
PepsiCo (NYSE: PEP) down 2.6% on an analyst downgrade to a “hold” rating out of Jeffries, owing to limited upside potential and setbacks in the snacks division.
Hershey (NYSE: HSY) is down nearly 4% on the day amid volatile cocoa future prices.
Markets Hold Gains
Technology stocks are continuing to lead the market higher, buoying the Nasdaq Composite and S&P 500 while the Dow Jones Industrial Average has slipped into the red.
As of mid-morning trading, the Nasdaq Composite is up 1.2% while the S&P 500 is posting fractional gains. The Dow Jones Industrial Average is off about 175 points, pressured by stocks like Verizon (NYSE: VZ) and the airlines on a report that Boeing (NYSE: BA) aircraft prices could soar as a result of the tariffs.
Palantir Technologies (Nasdaq: PLTR), which fits the bill as an AI stock, is rising 5.6% on the day.
CrowdStrike (Nasdaq: CRWD) is extending its recent gains by tacking on another 4.4% today.
The markets are in rebound mode after a better-than-expected inflation report. Technology stocks are the tide lifting most boats, sending the Nasdaq Composite and S&P 500 higher while the Dow Jones Industrial Average has erased earlier gains. February’s CPI rate climbed 0.2% to 2.8%, results that were better than expected, helping to lift the market mood. The relief could not come too soon given the fears that have been sparked around the tariff war.
Nvidia (Nasdaq: NVDA) and Tesla (Nasdaq: TSLA) led the tech sector higher with gains of 6.4% and 7%, respectively. Tesla’s gains come on the heels of yesterday’s ringing endorsement from President Trump and a commitment from Elon Musk to bolster U.S. production of the EVs over the next couple of years. Tesla’s stock has been recapturing some lost ground, rising 10% so far this week. The latest gains sent Tesla’s market cap back above the $800 billion threshold before pulling back somewhat.
The Magnificent Seven cohort is trading mostly higher despite a note out of Goldman Sachs citing weakness in these names as its reason for slashing its S&P 500 forecast to 6,200.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 137.19 (-0.31%)
Nasdaq Composite: Up 232.23 (+1.33%)
S&P 500: Up 20.29 (+0.35)
Market Movers
Super Micro Computer (Nasdaq: SMCI) is among the top performers of the day, extending yesterday’s gains and rising 8% on the day. Semiconductor stock Micron Technology (Nasdaq: MU) is another winner, rising 7.3%. Both stocks are helping to buoy the S&P 500 index.
Airlines are falling on a report that Boeing (NYSE: BA) aircraft prices could soar as a result of the tariffs. Boeing stock is up fractionally while United Air Lines (Nasdaq: UAL) and Delta Airlines (NYSE: DAL) are falling 4.6% and 3.7%, respectively.
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