Live Nasdaq Composite; Markets Climb as Big Tech Earnings and Ceasefire Optimism Align
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MU $1T Club
A surge in chip and memory stocks has lifted Micron (Nasdaq; MU) to a fresh all-time high, catapulting the company into the $1 trillion market-cap club. Micron stock is currently soaring by 16.2% as it inches closer to the $900/share level. The rally in MU stock appears to be fueled by a bullish Wall Street report in which UBS analysts lifted their price target on the stock to above $1600/per share. Meanwhile, Qualcomm (Nasdaq; QCOM) stock is up 5.3% today after clinching a reported chip deal with China’s ByteDance.
Nasdaq 100 Record Turf
The Nasdaq 100 index has clinched a new record, surpassing the 30,000 level for the first time in history. Some of today’s biggest gainers catapulting the index to record levels include Micron Tech (Nasdaq: MU), Monolithic Power Systems (Nasdaq: MPWR) and Lam Research (Nasdaq: LRCX).
SoftBank's OpenAI Bet
SoftBank has built a nearly $65 billion position in OpenAI, and the market is starting to take notice. Shares hit a record high Tuesday, up roughly 40% over five trading sessions, fueled by reports that OpenAI is preparing to file for an IPO in the coming days. The commitment would give SoftBank an approximately 13% stake in the ChatGPT maker by October, a position significant enough that, excluding treasury shares, the company has passed Toyota as Japan’s most valuable company for the first time since 2000. SoftBank’s power unit, SB Energy, is also planning a confidential U.S. IPO filing of its own. One analyst tempered the enthusiasm, telling Bloomberg: “Right now the stock is moving purely based on expectation.”
This article will be updated throughout the day, so check back often for more daily updates.
Stock futures pointed higher Tuesday as traders returned with one eye on earnings and the other on Washington. Prospects of a U.S.-Iran deal are adding a geopolitical tailwind to an already constructive tape. Nasdaq-100 futures led the charge, advancing 1.2%, while S&P 500 futures gained 0.7% and Dow futures added 258 points, or 0.5%.
Micron Technology (NASDAQ:MU | MU Price Prediction) is grabbing attention in the premarket, jumping 8% on a wave of analyst optimism. UBS is making the boldest call, flagging more than 100% upside ahead for the semiconductor name and pointing to the durability of its long-term supply agreements as the core of the thesis. The stock closed last week with a strong gain after weathering early-week pressure from a broader pullback in memory chip names. Separately, Dell Technologies (Nasdaq: DELL) stock is up nearly 2% in early trading amid expectations for a strong Q1 earnings print on Nvidia and AI-related tailwinds.
On the geopolitical front, President Trump said Monday that negotiations with Iran to end the war were “proceeding nicely,” though he was careful to leave the door open, warning the U.S. could shift to an offensive posture if talks break down. For now, the measured tone out of Washington is giving markets room to run. The price of Brent Crude oil continues to hover below the sensitive $100/barrel threshold.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 50,693 Up 0.23%
Nasdaq Composite: 26,548 Up 0.79%
S&P 500: 7,517 Up 0.59%
Market Movers
Pershing Square chief Bill Ackman disclosed a new position in software giant Microsoft (Nasdaq: MSFT), framing the entry as a continuation of a strategy that has already taken him into Google, Amazon, and Meta. “Like our purchases of $GOOG, $AMZN, and $META, we believe that $MSFT offers analogous and compelling long-term value at today’s valuation,” Ackman said. The endorsement from one of Wall Street’s most closely watched investors adds another layer of conviction to a name that is already carrying significant weight in today’s session.
At $5.2 trillion, Nvidia’s (Nasdaq: NVDA) market cap has now soared above that of all the stocks in the markets of both Taiwan and India.
Elon Musk unveiled his intentions to introduce a “more detailed AI satellite design in a few weeks,” according to a post on X.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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