Both the S&P 500 and the NASDAQ Composite closed at fresh record highs today, while the Russell 2000 also ended at a new closing peak as investors embraced a stronger risk-on tone.
The rally was fueled in part by growing hopes for a potential de-escalation in the Iran conflict. Reports circulated that a proposed one-page memorandum of understanding could eventually serve as the framework for a broader nuclear agreement down the road. Adding to the optimism were hopes that the Strait of Hormuz could reopen more fully to shipping traffic, easing concerns over global energy supply disruptions.
That shift in sentiment sparked a sharp move lower in oil prices. June crude oil futures fell $7.18, or -7.02%, to settle near $95.09 as traders priced in reduced geopolitical risk and the possibility of improved supply flows.
The NASDAQ and Russell 2000 index has been up 4 of last 5 trading days. The S&P is up 3 of the last 4 days. The Russell 2000 is up 5.38% over the last 5 days, while the NASDAQ index is up 4.76%..
Since bottoming on March 30, the
- NASDAQ is up 24.88%,
- S&P index is up 16.59%.
- Small-cap Russell 2000 is up 20.03%
Super Micro computers surged by 24.54% to $34.66 after earnings yesterday. The stock price Above its 100 day moving average at $29.31, and reached a high of $34.71 just short of the closing level. The 38.2% retracement of the move down from the end of July 2025 high comes in at $35.86, while the 200 day moving average comes in at $37.44. The price has been below its 100 day moving average since November 4 and below its 200 day moving average since November 5.
AMD shares surged by 18.61% after they reported better than expected earnings after the close. Since March 30 the stock prices up 118.49% (that is 26 days of trading).
This article was written by Greg Michalowski at investinglive.com.
