After the broad markets opened up the day soaring on glimmers of hope of a tariff deals, the S&P 500 dropped $2.5 trillion since 10:30 am. The ‘fear index’ CBOE VIX, shot higher over the same time period on is pushing 50, or extreme fear.
Live coverage has ended. The full story is below.
After days of chaotic, tariff-induced pullbacks, the major indices pushing aggressively higher before pulling back in the afternoon. All on hopes for trade deals.
In fact, according to CNBC, Treasury Secretary Scott Bessent said that around 70 countries had approached the U.S. for tariff negotiations. We’ll have to wait and see if the rally holds, though, with a potential 104% tariff against China.
However, some of the top Magnificent 7 stocks are popping, including:
Earlier today, Microsoft (NASDAQ:MSFT | MSFT Price Prediction) was up more than $14 a share but the lead is has been trimmed as of 2:30 pm.
The stock had become incredibly oversold at lows not seen since 2023.
Two, RBC Capital Markets analyst Rishi Jaluria recently said MSFT is one of the firm’s “top picks” noting, “We believe investors underappreciate the GenAI innovation Microsoft brings throughout the infrastructure and application layers, and view the recent underperformance of the shares as a buying opportunity.”
“Jaluria expects Microsoft to grow steadily through Fiscal Year 2026, especially since it has plans to enter new areas of growth like hyper-automation while also continuing to expand its Office software users. As a result, the analyst set a $500 price target, which is about 31% higher than the current level, and gave it an Outperform rating,” as noted by TipRanks.com.
Up about $15 earlier in the day, Broadcom (NASDAQ:AVGO) has been another high-flier.
Incredibly oversold, it’s just starting to pivot from a low of about $140. Helping, the company just announced a new buyback program of up to $10 billion. “The new share repurchase program reflects the board’s confidence in our strong cash flow generation and allows us to deliver value to our stockholders,” said Kirsten Spears, Broadcom’s chief financial officer.
The company added that the amount of stock repurchased would depend on factors, such as market conditions and acquisition opportunities.
Meta Platforms (NASDAQ:META) was up more than $30 a share but also erased all its gains in the past hour.
It’s also trading at about 0.35x growth. Two, its forward price-to-earnings multiple of 20 and its enterprise value-to-sales ratio of 7.6 do not fully reflect the company’s future growth or its powerful economic moat. Plus, with $52.1 billion in free cash flow and $77.81 billion in liquidity, there’s still plenty of upside opportunity in the stock. META is also trading at just 22x earnings, which is attractive given Wall Street’s long-term growth estimate of about 17%.
Meta also has 3.35 billion daily active users across its platforms, which is a strong advertising magnet. With most of the planet using its family of apps, it generated $164 billion in revenue just last year. It’s also strongly investing in artificial intelligence, with its Meta AI assistant projected to reach about a billion users this year.
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Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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