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TradingKey - Major indices closed higher today in a broad relief rally as the recent surge in oil prices finally abated. The S&P 500 climbed 1.01% to 6,699.38, while theNasdaq Composite gained 1.22% to reach 22,374.18. The Dow Jones Industrial Average also finished in positive territory, adding 0.83% to close at 46,946.41.
The rebound was primarily driven by megacap technology stocks. Meta Platforms (META) rose 2.32%, and Nvidia (NVDA) gained 1.63%, significantly boosting the Nasdaq. During a GPU technology conference, Nvidia CEO Jensen Huang provided a bullish outlook, stating he expects the company to generate $1 trillion in AI chip revenue through 2027.
Sector performance was mixed elsewhere. 10x Genomics (TXG) plummeted over 11% following a sell-off by Ark Invest and mounting concerns over its growth trajectory. Conversely, the retreat in oil prices provided a tailwind for the aviation sector, with Boeing (BA) and American Airlines (AAL) rising 1.65% and 1.89%, respectively. In the digital asset space, Coinbase (COIN) climbed 3.87% as Bitcoin (BTC) traded up 2.81%.
Market sentiment improved as oil prices retreated from the psychological $100-per-barrel threshold. High energy costs have weighed heavily on global markets since the outbreak of the war in Iran, sparking fears of persistent inflation and a potential economic downturn. While the conflict has severely disrupted traffic through the Strait of Hormuz, short-term supply fears eased slightly after several vessels successfully navigated the passage over the weekend and the International Energy Agency signaled its readiness to release additional reserves if necessary.
Despite the daily gain, analysts at Bank of America urged caution, noting that the market has yet to fully price in the consequences of a protracted conflict. They warned that a long-term war remains a distinct possibility, which could lead to severe global supply chain disruptions and sustained energy headwinds, ultimately threatening future stock market performance.
Market Headline
Donald Trump has hinted at potential strikes against Iran's Kharg Island oil facilities while calling on Europe, Japan, and South Korea to assist in securing the Strait of Hormuz. He noted that U.S. forces have already struck over 7,000 Iranian targets and confirmed the arrival of two minesweepers in Malaysia. However, several allies have expressed reluctance; Germany stated the conflict between the U.S., Israel, and Iran is unrelated to NATO, while Italy declined military involvement. U.K. Prime Minister Keir Starmer remarked that restoring passage through the strait is "not an easy task" but emphasized the U.K. would not be drawn into a broader Middle Eastern war. Similarly, Japan and Australia confirmed they have no current plans to deploy vessels for escort missions. In response to the proposed escort alliance, China has once again called for an immediate cessation of military actions. Meanwhile, Iran claimed to have struck U.S. bases in Qatar and the UAE on Monday, warning of imminent strikes on U.S. industrial interests in the region and promising a decisive response if Kharg Island is attacked.
In legal developments, the Trump administration has requested U.S. District Judge James Boasberg to reconsider his decision to quash a grand jury subpoena issued to Federal Reserve Chair Jerome Powell. A potential appeal by the government could prolong efforts to replace Powell with former Fed Governor Kevin Warsh, a move frequently advocated by key Republican Senator Thom Tillis.
On the economic front, the Port of Fujairah — the UAE's strategic oil export hub located outside the Strait of Hormuz — has partially resumed operations. Market sentiment saw a slight recovery as the STOXX Europe 600 closed up 0.4% on Monday after an intraday drop of 0.5%. This follows two consecutive weeks of losses, the first such streak of the year, amid fears that the Middle East conflict may last longer than anticipated.
In technology news, Nvidia CEO Jensen Huang unveiled DLSS 5, describing it as the "GPT moment" for computer graphics. Representing the company's most significant breakthrough since 2018, DLSS 5 utilizes a real-time neural rendering model to inject "cinematic" lighting and material details into pixels. Aiming for Hollywood-quality interactive visuals, the technology is set for a fall release with support from major developers like NetEase, Tencent, and Ubisoft.
Simultaneously, Samsung has accelerated the AI memory race by announcing HBM4E and deepening its partnership with Nvidia. The new high-bandwidth memory features 16Gbps per-pin speeds and a maximum stack bandwidth of roughly 4TB/s. Optimized for Nvidia’s next-generation AI platforms, HBM4E is viewed as essential infrastructure for trillion-parameter models and AI data center expansion.
The U.S. Securities and Exchange Commission (SEC) is preparing a proposal to shift the mandatory financial disclosure requirement for public companies from quarterly to semi-annual. Under the plan, which could be unveiled as early as next month, quarterly reporting would become optional rather than being entirely eliminated. However, there is no guarantee that the proposal will be finalized or implemented.
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