Stocks close higher after whipsawing; oil surges |
In a volatile trading session, the S&P 500 just barely finished in the green as the Nasdaq 100 and Russell 2000 rose after the US launched a series of attacks against Iran. Energy shares led gains, with Exxon, Chevron, Matador Resources, ConocoPhillips, and Occidental Petroleum rising as the price of oil surged.
Stocks that moved higher: |
- Palantir Technologies, an intelligence and defense contractor to the US and Israel, popped, as did defense stocks Lockheed Martin, Northrop Grumman, and RTX.
- Satellite stocks AST SpaceMobile, Planet Labs, and Firefly Aerospace and related space play Intuitive Machines spiked as the war with Iran shifted focus to defense spending.
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Nvidia gained after being named Morgan Stanley’s top pick in semiconductors. The chip designer also revealed an optics development partnership with Coherent and Lumentum, whose shares surged. POET Technologies, another optical communications company, also spiked on the news.
- Hims & Hers soared after Robert F. Kennedy, Jr. said hoping to make peptides more accessible on the Joe Rogan Experience podcast.
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United Airlines, Delta Air Lines, Alaska Airlines, American Airlines Group, Southwest Airlines, and JetBlue dipped along with cruise stocks Royal Caribbean, Carnival, and Norwegian Cruise Line as oil spiked and travel disruptions continued amid the Iran conflict.
- Sony and Nintendo dipped on fears of increased global shipping costs.
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Berkshire Hathaway fell after its operating earnings dropped 30% year-on-year, with acute softness in its insurance division.
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A consequential week punctuated by war highlights the deep rifts that exist between Silicon Valley and Washington. Read more. |
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