Stocks close at record highs, oil falls as ceasefire holds
Despite only three of the Magnificent 7 companies advancing, today’s gains were broad-based enough to propel stocks to new records.
The S&P 500, Nasdaq 100, and Russell 2000 closed at new all-time highs as the ceasefire between the US and Iran appears to be holding despite escalating tensions. All sectors rose in today’s broad-based gains.
Bitcoin passed $81,000 as optimism for progress on the CLARITY Act builds.
Moving higher:
Intel closed at a new all-time high on reports that it’s in early chipmaking talks with Apple.
POET Technologies surged on an explosion of call demand.
Pinterest soared after posting better-than-expected Q1 results after the bell yesterday, with its fastest revenue growth since Q2 2024.
AB InBev, the world’s largest brewer, rose after it reported quarterly results that beat Wall Street estimates and showed its beer business grew for the first time since 2023.
Sterling Infrastructure skyrocketed after management hiked profit guidance by 42% on a data center building boom.
DigitalOcean soared after boosting full-year revenue and margin guidance while delivering better-than-expected Q1 results.
Bullish rose on a $4.2 billion deal to acquire transfer agent Equiniti.
Cipher Digital gained as its CEO touted pricing power in data center lease negotiations, despite reporting underwhelming Q1 revenue.
Hertz rose after announcing it will sell “Hertz Certified” used cars on eBay.
Cummins jumped after its power systems division delivered record results and management boosted its full-year outlook.
Toncoin sprang on news Telegram will act as a “driving force” for the network.
Moving lower:
Palantir dropped despite reporting strong operating performance in yesterday’s earnings call as traders appear to have fallen out of love with the stock.
Duolingo tumbled despite reporting better-than-expected Q1 results after the bell yesterday.
Shopify sank despite a strong first quarter as Q2 guidance failed to impress.
PayPal tumbled as management warned of poor trends for 2026, saying it will take “a few months” to define a new plan.
Meta dipped as major publishers banded together to sue the social giant over AI training practices.
FactSet slipped as Anthropic rolled out AI agents for financial services, threatening incumbents in the data and analytics space.
