S&P 500 (NYSEARCA: SPY) Live: Markets Stage Comeback on Mideast Hopes

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AMD Rally

Jun 16, 2025 at 2:47 PM EDT | Gerelyn Terzo

Today’s rally in Advanced Micro Devices (Nasdaq: AMD) shares comes amid a bullish report out of Wall Street. Piper Sandler has lifted its price target on AMD stock to $140 per share, reflecting 11% upside potential from current levels. The analyst firm has an “overweight” rating on the stock.

The SPY ETF is now up 0.86%.

Mixed Messages on CRWV

Jun 16, 2025 at 12:05 PM EDT | Gerelyn Terzo

Bank of America believes CoreWeave’s (Nasdaq: CRWV) AI capex potential is limited and is sending mixed messages on the stock. The analyst firm downgraded shares from “buy” to a “neutral” rating but more than doubled the price target to $185 per share from a previous $76 target. CoreWeave shares are rallying 5.3%.

The SPY ETF is now up 1%.

Goldman Sachs Touts TINA Strategy

Jun 16, 2025 at 10:30 AM EDT | Gerelyn Terzo

Wall Street firm Goldman Sachs has reportedly published a note touting the stock market’s TINA strategy – translating to “there is no alternative.” This approach suggests that investors will flock to equities for a lack of a better option, a theory that unfolded in the wake of the 2008 financial crisis amid a low interest rate environment that made bonds unattractive. The SPY is currently up 1.1%.

This article will be updated throughout the day, so check back often for more daily updates.

The markets are feeling optimistic today, trading higher across the board on hopes that Middle East tensions won’t intensify. This calmer outlook has prompted WTI crude oil prices to retreat after Friday’s rally, though crude continues to hover above the $71 per barrel mark. The SPDR S&P 500 ETF is tacking on 1.1% to start the week.

All three major stock averages are climbing, with the Nasdaq Composite leading the charge, up 1.5%. Every sector of the economy is in positive territory, sparked by a 1.1% advance in technology. Even the Magnificent Seven stocks are seeing green today, spearheaded by a 2% jump in Meta Platforms (Nasdaq: META), which has plans to roll out advertisements on its WhatsApp platform.

This week, all attention turns to the Federal Reserve as the FOMC prepares for its two-day meeting to decide the near-term trajectory of interest rates. President Trump has openly urged Fed Chairman Jerome Powell to initiate rate cuts, and recent cooling inflation data could indeed sway policymakers. Despite this, economists at Wells Fargo anticipate the Fed will maintain current rates, describing the situation as a “holding pattern.”

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 481.67 (+1.16%)
Nasdaq Composite: Up 290.53 (+1.5%)
S&P 500: Up 69.33 (+1.1%)

Market Movers

Quantum computing stocks are holding the spotlight, energized by the recent endorsement from Nvidia CEO Jensen Huang. The latest development sees Roth Capital raising its price target on D-Wave Quantum (Nasdaq: QBTS) by $6 to $18 per share, reiterating its “buy” rating. This optimistic outlook is fueled by greater revenue potential, pushing QBTS closer to its all-time high share price of over $19 per share.

Separately, U.S. Steel is up 5% today after President Trump officially approved its substantial $14.9 billion merger with Nippon Steel.