Wall Street Today: Nasdaq Comp, S&P 500, DJIA Rise as Oil Falls and CRDO, CRWV, MU, META Gain

The S&P 500 and Nasdaq Composite both gained 1%+ Tuesday as the U.S.-Iran ceasefire held, oil sank and Credo, CoreWeave, Micron, Meta and other tech giants rose on various positives.

The $Nasdaq Composite Index (.IXIC.US)$ added 455.35 points (2%) to a 23,649.08 close, while the $S&P 500 Index (.SPX.US)$ rose 81.14 ticks (1.2%) to 6,967.38. The$Dow Jones Industrial Average (.DJI.US)$ also improved by a smaller amount, gaining 317.74 points (0.7%) to 48,535.99.

The three indexes rose in part on continued peace between the United States and Iran, whose week-old 14-day ceasefire held despite the two sides' weekend failure to negotiate a permanent end to their roughly six-week-old war.

The shaky peace allowed $Crude Oil Futures (JUN6) (CLmain.US)$ to sink 7% to $92.14 a barrel Tuesday at last check on the New York Mercantile Exchange, helping push stocks higher.

Equities had been generally easing since the war began on Feb. 28, with the conflict prompting fears that Mideast oil disruptions would raise energy prices, spark inflation and potentially cause a worldwide recession.

However, Tuesday's Mideast calm cleared to way for several Big Techs to either partly rebound from their recent losses or rise on fresh positive news tied to the artificial-intelligence boom.

For instance, $Credo Technology (CRDO.US)$ shot up 18.7% after the copper-wiring firm announced plans late Monday to buy chip maker DustPhotonics for $750 million in cash and at least 920,000 shares of Credo stock in a bid to become AI connectivity giant.

$Bloom Energy (BE.US)$ also gained 24% on an expanded deal to sell $Oracle (ORCL.US)$ 2.8 gigawatts of Bloom's fuel-cell systems for AI and cloud-computing infrastructure. ORCL gained 4.7% on the news.

Meanwhile, $CoreWeave (CRWV.US)$ added 6.3% to $117.20 after BofA Securities boosted the stock's price target to $120 from a previous $100 and reiterated its "Buy" rating.

$Amazon (AMZN.US)$ also gained 3.8% in part on formal announcement of an expected deal to buy satellite-communications firm $Globalstar (GSAT.US)$ for some $11.6 billion in a bid to challenge Elon Musk's privately held SpaceX, which expects to soon go public. GSAT rose 9.6% on the news.

Other Big Techs to see noteworthy gains included $Applied Digital (APLD.US)$ (up 14%), $IREN Ltd (IREN.US)$ (10% firmer), $Micron Technology (MU.US)$ (which added 9.2%), $NEBIUS (NBIS.US)$ (4.8% stronger), $Super Micro Computer (SMCI.US)$ (4.7% higher), $Meta Platforms (META.US)$ (4.4% better) and $NVIDIA (NVDA.US)$ (ahead 3.8%).

Cryptocurrencies also rose in a risk-on move, as well as reports of increased inflows of investment funds into the sector.

$Bitcoin (BTC.CC)$ added 1.6% to $74,276.40 as of about 5:15 p.m. New York time, while $Ethereum (ETH.CC)$ rose 3.1% to $2,322.50,$Solana (SOL.CC)$tacked on 0.1% to $83.89 and $Ripple (XRP.CC)$gained 0.8% to $1.36.

Moo-vers

The "Magnificent Seven" stocks followed the broad market's lead, with all Mag-7 names except for $Apple (AAPL.US)$rising 2% or more.

$Meta Platforms (META.US)$, $Amazon (AMZN.US)$ and $NVIDIA (NVDA.US)$ led the sector higher with their aforementioned gains of 4.4%, 3.81% and 3.8%, respectively.

$Alphabet-A (GOOGL.US)$ (up 3.6%) and $Tesla (TSLA.US)$(3.3% better) followed closely behind, while $Microsoft (MSFT.US)$ improved by 2.3%. Only $Apple (AAPL.US)$lost ground, easing 0.1%.

Elsewhere on Wall Street, Tuesday's noteworthy percentage decliners included:

-- $AST SpaceMobile (ASTS.US)$, down 10.5%. The space-launch firm fell on apparent fears that Amazon's purchase of GSAT will hurt ASTS's business.

-- Select oil stocks, which fell on petroleum's Tuesday decliners. Losers included oil majors $Occidental Petroleum (OXY.US)$ (off 4.6%), $Chevron (CVX.US)$ (2.5% lower), $Exxon Mobil (XOM.US)$ (off 2.2%) and micro-cap $Battalion Oil (BATL.US)$ (which shed 9.2%).

-- $Intel (INTC.US)$, down 2.1%. The chip giant snapped a nine-session winning streak that saw its stock price rise 58% since March 31 on several positive catalysts.

Conversely, the day's major percentage gainers included:

-- Certain quantum-computing stocks. $IonQ Inc (IONQ.US)$ rose 20.2% on several catalysts, led by word that it had successfully networked two quantum systems together for the first time. $D-Wave Quantum (QBTS.US)$ (up 15.8%), $Quantum Computing (QUBT.US)$ (11.6% firmer) and $Rigetti Computing (RGTI.US)$ (11.5% better) rose in sympathy.

-- Select cryptocurrency stocks, which rose in a risk-on move and in sympathy with crypto and tech's Tuesday rallies. Winners included $Robinhood (HOOD.US)$ (up 10.4%), $Circle (CRCL.US)$ (6.9% firmer), $Coinbase (COIN.US)$ (5.7% better) and $Strategy (MSTR.US)$ (which added 3.8%).

Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.

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