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StockWatch Trading SIGNALS to most tradeable Greek Europe USA Stocks, Wolrd Indices , FX, Commodities and Futures

Trading SIGNALS to most tradeable Greek Europe USA Stocks, Wolrd Indices , FOREX, Commodities and Futures

02/06/2026

Update 01/06/2026
— The major averages closed higher on Monday, with the S&P 500 (+0.3%), Nasdaq Composite (+0.4%), and DJIA (+0.1%) all setting fresh record highs during the session as investors navigated a sharp jump in oil prices and another round of AI-driven technology leadership. —Early trading was shaped by a surge in crude oil following reports that Iran had stopped messaging the U.S. in protest of Israel's strikes in Lebanon. Oil prices remained elevated throughout the session, although they pared their worst levels after President Trump stated on Truth Social that discussions with Iran were continuing "at a rapid pace." WTI crude oil futures ultimately settled up $4.77 (+5.5%) at $92.19 per barrel. —Despite the gains in the major averages, market participation was relatively narrow. The information technology sector (+2.5%) was the clear leader and provided much of the market's upside support. NVIDIA (NVDA 224.36, +13.22, +6.26%) and Microsoft (MSFT 460.52, +10.28, +2.28%) remained focal points after announcing a partnership to develop a secure Windows platform for on-device AI agents, while Dell (DELL 466.02, +45.11, +10.72%) also benefited from the news. —Elsewhere in the sector software stocks extended their recent momentum as well, with the iShares Expanded Tech-Software Sector ETF (IGV) jumping 5.9%. —Outside of technology and energy (+1.9%) sectors, the tone was less encouraging. Rising energy prices pressured several oil- and rate-sensitive areas of the market, limiting participation beneath the surface. The consumer discretionary (-2.6%) and utilities (-3.1%) sectors finished sharply lower, with nine total S&P 500 sectors posting a loss.—Broader market measures generally lagged the major averages despite the record highs, with the Russell 2000 (-0.5%) and S&P Mid Cap 400 (-0.1%) retreating modestly. —Corporate news contributed to several notable individual stock moves. MGM Resorts (MGM 50.69, +7.02, +16.08%) surged after confirming it received an acquisition proposal from IAC, while Taylor Morrison Home (TMHC 71.55, +13.05, +22.31%) rallied following Berkshire Hathaway Inc.'s (BRK-B 470.28, -4.21, -0.89%) agreement to acquire the homebuilder in an $8.5 billion all-cash transaction.—Separately, FedEx (FDX 338.49, -73.26, -17.79%) completed the spin-off of FedEx Freight (FDXF 149.53, -10.84, -6.76%), which began trading as an independent public company. —In conclusion, record highs across the major averages masked another session of narrow leadership, as enthusiasm surrounding AI-related technology stocks proved strong enough to overcome the headwinds created by higher oil prices and lingering geopolitical uncertainty.—U.S. Treasuries started June with losses in most tenors, though the market put up a fight, finishing the session closer to the day's opening levels than session lows. The 2-year note yield settled up four basis points to 4.05%, and the 10-year note yield settled up two basis points to 4.48%. —Reviewing today's data:
May S&P Global U.S. Manufacturing PMI - Final 55.1 (May Prelim was 55.3)
April Construction Spending: 0.4% vs Briefing.com consensus of 0.3%; March was revised to 0.2% from 0.6%
The key takeaway from the report is that it included a sharp downward revision to growth rate from March (0.2%), resulting in a weak report overall. New single-family construction spending increased a solid 1.4% in April but was still down 2.9% year-over-year.
May ISM Manufacturing Index 54.0% vs Briefing.com consensus of 53.1%; April was 52.7
The key takeaway from the report is that it continued showing some stagflationary elements for the second consecutive month, as employment remained in contraction-though at a slower rate-while the prices index only dipped slightly from its sharpest increase since early 2022.

29/05/2026

Update 28/05/2026
— The stock market had a relatively quiet session, with some profit-taking across semiconductor names limiting gains across the S&P 500 (flat) and Nasdaq Composite (+0.1%), while another retreat in oil prices supported strength in the broader market, sending the DJIA (+0.4%) to fresh record highs.—While the S&P 500 managed to capture a record closing high, the index spent much of the session in negative territory, which was largely due to weakness in the information technology sector (-0.4%). The sector finished well off its session lows, but semiconductor names remained a point of weakness following yesterday's Micron-led rally.—Micron (MU 928.41, +32.53, +3.63%) and other memory storage names managed to finish the session with gains, but large chipmakers such as NVIDIA (NVDA 212.60, -2.26, -1.05%) and Intel (INTC 121.77, -1.75, -1.42%) traded lower, while Qualcomm (QCOM 233.40, -15.42, -6.20%) was a notable laggard.—The PHLX Semiconductor Index finished 1.4% lower. —The information technology sector was one of five S&P 500 sectors to finish lower today, though losses elsewhere were generally modest. —The financials sector (-0.8%) was another laggard, with particular weakness across investment manager and insurance names. JPMorgan Chase (JPM 299.28, -7.46, -2.43%) traded lower after CEO Jamie Dimon said at a conference that the bank could commit $10 billion to $20 billion toward an acquisition in the coming years.—Elsewhere, the energy sector (-1.5%) finished with the widest loss as optimism surrounding a potential peace agreement between the U.S. and Iran sent oil prices sharply lower again today. The White House denied reports from Iranian state media suggesting the two sides are close to finalizing a memorandum of understanding that would restore traffic through the Strait of Hormuz, though Secretary of State Marco Rubio said during a cabinet meeting that some progress has been made toward a peace agreement.—Crude oil futures settled today's session $5.29 lower (-5.6%) at $88.60 per barrel. —Airlines, cruise lines, and homebuilders all outperformed again today, with the latter two groups helping lift the consumer discretionary sector (+1.9%). Treasury yields also moved modestly lower, and the iShares U.S. Home Construction ETF advanced 1.6%. —Elsewhere in the sector, Amazon (AMZN 271.85, +6.56, +2.47%) provided solid mega-cap leadership, while MGM Resorts (MGM 41.95, +3.50, +9.10%) was among the best-performing S&P 500 components after several brokerage upgrades.—The consumer staples sector (+1.0%) also outperformed as investors did some bargain hunting following yesterday's retreat, while Meta Platforms (META 635.26, +22.92, +3.74%) moved higher this afternoon after TechCrunch reported that the company plans to introduce global consumer subscription offerings, helping lift the communication services sector (+0.7%) to its best levels of the session. —Overall, stocks remained near record levels despite some consolidation across semiconductor names, while falling oil prices continued to reinforce optimism that a U.S.-Iran agreement is becoming increasingly plausible. At the same time, investors have continued to show a willingness to buy dips across semiconductors and other AI-related names, which could fuel another push further into record territory.—U.S. Treasuries padded this week's gains during an otherwise quiet Wednesday session. Treasuries set fresh lows after today's $70 billion 5-year note auction met weaker demand than yesterday's solid 2-year note sale, but the last couple hours saw a return to pre-auction levels. The 2-year note yield settled down two basis points to 4.03%, the 5-year note yield settled down one basis point to 4.18%, and the 10-year note yield settled down one basis point to 4.48%.
Russell 2000: +17.7% YTD
Nasdaq Composite: +14.8% YTD
S&P Mid Cap 400: +12.4% YTD
S&P 500: +9.9% YTD
DJIA: +5.4% YTD
—Reviewing today's data:
The weekly MBA Mortgage Index fell 8.5% to follow last week's 2.3% decrease. The Purchase Index was down 0.4% while the Refinance Index fell 18.1%.

28/05/2026

Update 27/05/2026
— The stock market had a relatively quiet session, with some profit-taking across semiconductor names limiting gains across the S&P 500 (flat) and Nasdaq Composite (+0.1%), while another retreat in oil prices supported strength in the broader market, sending the DJIA (+0.4%) to fresh record highs.—While the S&P 500 managed to capture a record closing high, the index spent much of the session in negative territory, which was largely due to weakness in the information technology sector (-0.4%). The sector finished well off its session lows, but semiconductor names remained a point of weakness following yesterday's Micron-led rally.—Micron (MU 928.41, +32.53, +3.63%) and other memory storage names managed to finish the session with gains, but large chipmakers such as NVIDIA (NVDA 212.60, -2.26, -1.05%) and Intel (INTC 121.77, -1.75, -1.42%) traded lower, while Qualcomm (QCOM 233.40, -15.42, -6.20%) was a notable laggard.—The PHLX Semiconductor Index finished 1.4% lower. —The information technology sector was one of five S&P 500 sectors to finish lower today, though losses elsewhere were generally modest. —The financials sector (-0.8%) was another laggard, with particular weakness across investment manager and insurance names. JPMorgan Chase (JPM 299.28, -7.46, -2.43%) traded lower after CEO Jamie Dimon said at a conference that the bank could commit $10 billion to $20 billion toward an acquisition in the coming years.—Elsewhere, the energy sector (-1.5%) finished with the widest loss as optimism surrounding a potential peace agreement between the U.S. and Iran sent oil prices sharply lower again today. The White House denied reports from Iranian state media suggesting the two sides are close to finalizing a memorandum of understanding that would restore traffic through the Strait of Hormuz, though Secretary of State Marco Rubio said during a cabinet meeting that some progress has been made toward a peace agreement.—Crude oil futures settled today's session $5.29 lower (-5.6%) at $88.60 per barrel. —Airlines, cruise lines, and homebuilders all outperformed again today, with the latter two groups helping lift the consumer discretionary sector (+1.9%). Treasury yields also moved modestly lower, and the iShares U.S. Home Construction ETF advanced 1.6%. —Elsewhere in the sector, Amazon (AMZN 271.85, +6.56, +2.47%) provided solid mega-cap leadership, while MGM Resorts (MGM 41.95, +3.50, +9.10%) was among the best-performing S&P 500 components after several brokerage upgrades.—The consumer staples sector (+1.0%) also outperformed as investors did some bargain hunting following yesterday's retreat, while Meta Platforms (META 635.26, +22.92, +3.74%) moved higher this afternoon after TechCrunch reported that the company plans to introduce global consumer subscription offerings, helping lift the communication services sector (+0.7%) to its best levels of the session. —Overall, stocks remained near record levels despite some consolidation across semiconductor names, while falling oil prices continued to reinforce optimism that a U.S.-Iran agreement is becoming increasingly plausible. At the same time, investors have continued to show a willingness to buy dips across semiconductors and other AI-related names, which could fuel another push further into record territory.—U.S. Treasuries padded this week's gains during an otherwise quiet Wednesday session. Treasuries set fresh lows after today's $70 billion 5-year note auction met weaker demand than yesterday's solid 2-year note sale, but the last couple hours saw a return to pre-auction levels. The 2-year note yield settled down two basis points to 4.03%, the 5-year note yield settled down one basis point to 4.18%, and the 10-year note yield settled down one basis point to 4.48%.
Russell 2000: +17.7% YTD
Nasdaq Composite: +14.8% YTD
S&P Mid Cap 400: +12.4% YTD
S&P 500: +9.9% YTD
DJIA: +5.4% YTD
—Reviewing today's data:
The weekly MBA Mortgage Index fell 8.5% to follow last week's 2.3% decrease. The Purchase Index was down 0.4% while the Refinance Index fell 18.1%.

27/05/2026

Update 26/05/2026
— The S&P 500 (+0.6%), Nasdaq Composite (+1.2%), and DJIA (-0.2%) posted a mostly higher start to the holiday-abbreviated week, with the S&P 500 notching fresh record highs. —The market was supported by another rally across semiconductor names, pushing the PHLX Semiconductor Index 5.5% higher and helping the broader information technology sector (+1.7%) finish as the top-performing S&P 500 sector. —Micron (MU 895.88, +144.88, +19.29%) posted a massive gain, surpassing a $1 trillion market capitalization after UBS raised its price target on the stock to $1,625 from $535 and reiterated its Buy rating. —Advanced Micro Devices (AMD 503.89, +36.38, +7.78%) and onsemi (ON 126.98, +10.78, +9.28%) were among the other notable chipmakers trading sharply higher, though NVIDIA (NVDA 214.86, -0.47, -0.22%) continued to struggle to hold intraday gains following last week's earnings release.—In addition to strong tech leadership, the market benefited from a more favorable macro backdrop today, with oil prices and Treasury yields both retreating amid reports that the U.S. and Iran made progress on negotiations over the weekend. Crude oil futures settled today's session $2.86 lower (-3.0%) at $93.89 per barrel, and the 10-year note yield settled down seven basis points to 4.49%. —Airline names such as United Airlines (UAL 105.92, +5.96, +5.96%) moved higher amid the retreat in oil prices, helping the industrials sector (+1.5%) outperform. —Similarly, construction materials names, including Martin Marietta (MLM 560.93, +24.45, +4.56%), were among the top performers in the materials sector (+1.4%). —The communication services sector (+0.9%) also notched a solid gain as Alphabet (GOOG 384.84, +5.46, +1.44%) rebounded from a recent bout of weakness, while gains were more modest elsewhere. —As for today's laggards, the energy sector (-2.8%) was the worst performer given the slide in oil prices, while the defensive consumer staples (-1.7%) and health care (-1.0%) sectors moved lower as investors favored more growth-oriented areas of the market. —AutoZone (AZO 3100.11, -306.39, -8.99%) finished as the worst-performing S&P 500 component after delivering a mixed Q3 earnings report, with a sizable EPS beat offset by slightly light revenue and meaningful gross margin pressure tied to inflation-related accounting impacts. Even so, the consumer discretionary sector (+0.1%) managed to finish modestly higher as Tesla (TSLA 433.48, +7.47, +1.75%) provided solid mega-cap leadership while cruise line stocks outperformed in typical fashion amid falling oil prices.—Outside of the S&P 500, the Russell 2000 (+1.8%) and S&P Mid Cap 400 (+1.5%) outperformed as lower Treasury yields continued to support smaller-cap and more economically sensitive areas of the market. —Overall, today's session reflected continued enthusiasm across semiconductor and AI-linked stocks, while easing pressure from oil prices and Treasury yields provided additional support for broader market participation. Even with some mixed action beneath the surface, investors remained willing to rotate into cyclical and growth-oriented groups as the S&P 500 continued its push into record territory.—U.S. Treasuries began the holiday-shortened week on a firmly higher note, encouraged by a pullback in the price of oil, which resulted from more indications that a peace deal with Iran is likely be finalized soon. The U.S. Treasury sold $69 billion in 2-year notes to good demand. The 2-year note yield settled down seven basis point to 4.05%, and the 10-year note yield settled down seven basis points to 4.49%.
Russell 2000: +17.7% YTD
Nasdaq Composite: +14.7% YTD
S&P Mid Cap 400: +12.8% YTD
S&P 500: +9.8% YTD
DJIA: +5.0% YTD
—Reviewing today's data:
The Conference Board's Consumer Confidence Index slipped to 93.1 in May (Briefing.com consensus: 92.0) from an upwardly revised 93.8 (from 92.8) in April. In the same period a year ago, the index stood at 98.4.—
The key takeaway from the report is that inflation pressures had consumers feeling less optimistic about current conditions; however, those same pressures did not squash expectations for better conditions six months from now.
April S&P Case-Shiller Home Price Index increased 0.8% (Briefing.com consensus 1.0%) following a previous increase of 0.9%.—The March FHFA Housing Price Index increased 0.1% (Briefing.com consensus 0.1%), with the prior reading revised to -0.1% (from 0.0%).

26/05/2026

Update 25/05/2026
— The S&P 500 (+0.4%), Nasdaq Composite (+0.2%), and DJIA (+0.6%) traded in a relatively stable range today, locking in weekly gains that extend the S&P 500's winning streak to eight weeks and pushing the DJIA to fresh record highs. The Russell 2000 (+0.9%) and S&P Mid Cap 400 (+0.8%) outperformed.—Despite mixed performances across mega-cap stocks and heightened expectations for a rate hike later in the year, the broader market showed resilience, with nine S&P 500 sectors finishing higher.—Earnings and several other corporate news items of note contributed to the advance. —Within the information technology sector (+0.5%), hardware names such as Dell (DELL 295.25, +42.45, +16.79%) and HP Inc. (HPQ 25.24, +3.34, +15.27%) led the way after rival Lenovo (LNVGY 39.96, +6.04, +17.81%) posted an encouraging earnings report. —Workday (WDAY 128.14, +6.29, +5.16%) moved higher after topping its own earnings estimates, which contributed to strength across software names in the iShares GS Software ETF (IGV 93.98, +1.50, +1.62%). —It is worth noting the PHLX Semiconductor Index (+1.9%) posted a solid gain as well, though NVIDIA (NVDA 215.33, -4.18, -1.90%) has yet to garner any buy-the-dip interest following its own earnings report earlier in the week, which somewhat limited the technology sector's gain today.—Alphabet (GOOG 379.38, -4.09, -1.07%) was the other mega-cap laggard today, which contributed to weakness in the communication services sector (-0.7%). The Vanguard Mega Cap Growth ETF (+0.2%) finished modestly higher. —The broader market, however, traded in a stable range, which contributed to the outperformance of the S&P 500 Equal Weighted Index (+1.0%) relative to the market-weighted S&P 500 (+0.4%). —The health care sector (+1.2%) captured the widest gain as Merck (MRK 122.42, +6.54, +5.64%) moved higher following some positive updates to its oncology drugs, while the utilities sector (+0.8%) was supported by strength in electric utilities names. —The industrials sector (+0.7%) rounds out today's top performers, with Generac (GNRC 270.21, +22.42, +9.05%) trading sharply higher after Jefferies upgraded the stock to Buy from Hold.—Importantly, stocks showed resilience despite some hawkish developments on the monetary policy front. Fed Governor Christopher Waller (voting FOMC member) said that he would need to see considerable improvements in inflation to consider a rate reduction, which weighed on shorter-tenor Treasury yields today. Inflation concerns were also reflected in the final May reading for the University of Michigan Consumer Sentiment Index, which fell to a record-low 44.8 as rising gas prices helped push year-ahead inflation expectations to an elevated 4.8%. —The CME FedWatch Tool is now assigning a 52.7% probability to a rate hike at the October FOMC meeting, with that probability rising to 74% by the January 2027 meeting.—That backdrop creates a challenging environment for new Fed Chair Kevin Warsh, who was sworn in today. —For the time being, stocks continue to draw support from solid earnings results and generally stable oil prices, with crude oil ultimately retreating for the week despite several bouts of geopolitical volatility. The market also heads into the weekend with little in the way of material developments surrounding U.S.-Iran negotiations, though Secretary of State Marco Rubio said that "slight progress" has been made in talks between the two sides.—As a reminder, the market will be closed Monday, May 25, for Memorial Day. —U.S. Treasuries had a mixed showing to end the week with the 5-year note and shorter tenors recording losses while 10s and 30s outperformed, finishing in the green. The Treasury complex was eager to continue trimming this week's losses at the start of the session, but the higher open was rebuffed quickly, sending shorter tenors into the red in mid-morning trade. The 2-year note yield settled up two basis points to 4.12% (+4 basis points this week), and the 10-year note yield settled down three basis points to 4.56% (-4 basis points this week).
Russell 2000: +15.6% YTD
Nasdaq Composite: +13.4% YTD
S&P Mid Cap 400: +11.1% YTD
S&P 500: +9.2% YTD
DJIA: +5.2% YTD
—Reviewing today's data:
The final reading for the University of Michigan Consumer Sentiment Index for May dropped to 44.8 (Briefing.com consensus: 48.2) from the preliminary reading of 48.2, marking a new historic low. The final reading for April was 49.8. In the same period a year ago, the index stood at 52.2.
The key takeaway from the report is that consumers are clearly concerned about rising costs and their ability to out-earn inflation, which they are concerned will increase beyond fuel prices.
The April leading Economic Index checked in at 0.1% (Briefing.com consensus -0.3%), from the prior reading of -0.6%.

22/05/2026

Update 21/05/2026
— The stock market had a relatively eventful session, with a slate of noteworthy earnings reports and plenty of oil-driven volatility leading to some choppy action. The S&P 500 (+0.2%), Nasdaq Composite (+0.1%), and DJIA (+0.6%) finished the session modestly higher, with the DJIA notching a record closing high. The Russell 2000 (+0.9%) outperformed, and the S&P Mid Cap 400 (+0.1%) finished flattish. —Stocks opened broadly lower as oil prices and Treasury yields surged following a Reuters report that Iran's Supreme Leader said the country's enriched uranium should remain in Iran. That report was later disputed, allowing oil prices and Treasury yields to stabilize, though stocks remained mostly lower through the morning. Sentiment shifted again shortly after midday, when reports from Middle Eastern sources indicated that a final draft of a mediated peace agreement between the U.S. and Iran could be announced within hours.—Stocks moved broadly higher as yields and oil moved lower, with crude oil futures settling today's session $1.91 lower (-2.0%) at $96.28 per barrel. —Eight S&P 500 sectors finished in positive territory. Unsurprisingly, the energy sector (-1.0%) reversed its early gain amid the intraday retreat in oil prices, while the consumer staples sector (-1.6%) finished sharply lower as Walmart (WMT 121.32, -9.53, -7.29%) disappointed investors with its Q1 earnings report. —The company reported in-line EPS on above-consensus revenue, issued below-consensus EPS guidance for Q2, and reaffirmed its EPS guidance for FY27, ultimately finishing as one of the worst-performing S&P 500 names.—The industrials sector (-0.1%) also faced some post-earnings weakness from Deere (DE 531.41, -29.05, -5.18%) after the company topped estimates and reaffirmed its full-year earnings guidance. —Meanwhile, the top-weighted information technology sector (+0.3%) managed to notch a modest gain despite NVIDIA (NVDA 219.51, -3.96, -1.77%) moving lower after its own eagerly anticipated earnings report. —The company delivered another standout beat-and-raise report, which included a massive jump in revenues and impressive forward guidance. However, the stock struggled to build on recent gains as investors have increasingly come to expect blowout results from NVIDIA, especially with shares entering earnings near record highs after an extended rally tied to AI enthusiasm. —Other semiconductor names faced some choppiness with the broader market, but finished the day as relative outperformers, with the PHLX Semiconductor Index advancing 1.3%. —Elsewhere in the technology sector, shares of IBM (IBM 253.02, +28.02, +12.45%) soared after the company and the U.S. Department of Commerce confirmed plans to build America's first purpose-built quantum foundry, supported by a proposed $1 billion CHIPS award. —Ralph Lauren (RL 374.80, +45.56, +13.84%) captured a similar gain after a strong earnings beat, while Williams-Sonoma (WSM 191.92, +11.68, +6.48%) moved higher after earnings. The stocks led strength in the consumer discretionary sector (+0.8%), which was also supported by strength across oil-sensitive and rate-sensitive names.—The defensive utilities sector (+1.0%) outperformed this morning as the broader market lagged, trading in a steady range throughout the session.—Overall, today's session reflected a market still highly sensitive to shifts in the macro backdrop, with intraday swings in oil prices and Treasury yields driving much of the action. Even so, continued strength across semiconductors and selective post-earnings winners helped support broader participation, while NVIDIA's muted reaction despite another exceptional report underscored how elevated expectations remain across the AI trade.—U.S. Treasuries endured some volatility on Thursday, but longer tenors ultimately reclaimed their early weakness while shorter tenors recovered some of their losses but could not avoid a lower finish. The 2-year note yield settled up five basis points to 4.09%, and the 10-year note yield settled up one basis point to 4.59%.
Russell 2000: +14.6% YTD
Nasdaq Composite: +13.1% YTD
S&P Mid Cap 400: +10.2% YTD
S&P 500: +8.8% YTD
DJIA: +4.6% YTD
—Reviewing today's data
April Housing Starts 1.465 mln (Briefing.com consensus 1.420 mln); Prior was revised to 1.507 mln from 1.502 mln, April Building Permits 1.442 mln (Briefing.com consensus 1.380 mln); Prior was revised to 1.363 mln from 1.372 mln
The key takeaway from the report is that there was broad-based weakness across all regions for both single-family starts and single-family building permits, underscoring the headwind posed for builders by rising costs for financing, materials, and labor.
Weekly Initial Claims 209K (Briefing.com consensus 210K); Prior was revised to 212K from 211K, Weekly Continuing Claims 1.782 mln; Prior was revised to 1.776 mln from 1.782 mln
The key takeaway from the report is that there is nothing to see here, meaning there is nothing in these latest numbers that would suggest there has been a sea change in a labor market environment that remains characterized by low firing and low hiring activity.
May Philadelphia Fed Index -0.4 (Briefing.com consensus 15.5); Prior 26.7
May S&P Global U.S.Manufacturing PMI - Prelim 55.3; Prior 54.5
May S&P Global U.S. Services PMI - Prelim 50.9; Prior 51.0

21/05/2026

Update 20/05/2026
— Stocks posted a strong session today, with the S&P 500 (+1.1%), Nasdaq Composite (+1.5%), and DJIA (+1.3%) finishing near their best levels as tech and mega-cap names rebounded from recent weakness while an improving macro backdrop supported broader market gains.—Investors bought into semiconductor stocks from the opening bell, with NVIDIA's (NVDA 223.33, +2.72, +1.23%) earnings report after the close acting as a catalyst amid expectations for another blowout quarter. Advanced Micro Devices (AMD 447.58, +33.53, +8.10%) and Intel (INTC 118.96, +8.16, +7.36%) were among the information technology sector's (+1.9%) top performers, as the PHLX Semiconductor Index (+4.5%) moved into positive territory for the week.—Several mega-cap names elsewhere also received some "buy-the-dip" attention this morning, including Tesla (TSLA 417.26, +13.15, +3.25%) and Amazon (AMZN 265.01, +5.67, +2.19%), helping the Vanguard Mega Cap Growth ETF (+1.4%) move into positive week-to-date territory as well. —The consumer discretionary sector (+2.5%) was already off to a strong start as a result.—Momentum accelerated just before midday after President Trump told reporters on Air Force One that the U.S. is in the "final stages" of talks on Iran, which sent oil prices and Treasury yields sharply lower after both had already been trending modestly downward. —Crude oil futures settled today's session $5.96 lower (-5.7%) at $98.19 per barrel, and the 10-year note yield settled down ten basis points to 4.57%.—Cruise lines such as Norwegian Cruise Line (NCLH 16.04, +1.24, +8.42%) and Carnival (CCL 26.04, +2.14, +8.98%) moved sharply higher, while homebuilders including Lennar (LEN 87.32, +4.32, +5.20%) and D.R. Horton (DHI 141.78, +7.06, +5.24%) also outperformed, helping the consumer discretionary sector build on its strong start and finish as the best-performing S&P 500 sector.—The iShares U.S. Home Construction ETF finished 4.5% higher. —The intraday retreat in yields and oil prices helped the broader market move firmly higher after a somewhat muted start. United Airlines (UAL 98.02, +8.90, +9.99%) and Delta Air Lines (DAL 74.12, +6.36, +9.39%) were among the best-performing S&P 500 components, contributing to strength in the industrials (+1.2%), while a rebound in container and packaging names pushed the materials sector (+1.4%) higher, and the real estate sector (+1.2%) benefited from the retreat in yields. —Weakness was limited to the energy sector (-2.6%) amid the plunge in oil prices, while the defensive consumer staples (-1.0%) and health care (-0.1%) sectors were overlooked in favor of more growth-oriented stocks today. —The consumer staples sector was also pressured by weakness in Target (TGT 122.33, -4.91, -3.86%) despite the company posting a solid beat-and-raise earnings report, while Walmart (WMT 130.85, -3.35, -2.50%) traded lower ahead of its earnings tomorrow morning. —Outside of the S&P 500, the Russell 2000 (+2.6%) and S&P Mid Cap 400 (+1.9%) outperformed amid the more favorable interest rate backdrop. —Stocks posted wins on multiple fronts today, which helped the major averages move into positive territory for the week. While there is still a lack of clarity around the state of negotiations between the U.S. and Iran, today's slide in oil prices alleviated some upward pressure on Treasury yields that were becoming increasingly viewed as a material headwind for equities. —Additionally, investors continued to buy dips across semiconductor and mega-cap stocks, with NVIDIA's upcoming earnings release serving as an additional potential catalyst for the group.—U.S. Treasuries climbed on Wednesday, bouncing from a slide that lifted yields to fresh 2026 highs earlier this week. The market held its ground through today's $16 billion 20-year bond auction, which met good demand, while the April FOMC Minutes showed some division among policymakers about the future rate path, which was not a surprise. The 2-year note yield settled down eight basis points to 4.04%, and the 10-year note yield settled down ten basis points to 4.57%.
Russell 2000: +13.5% YTD
Nasdaq Composite: +13.0% YTD
S&P Mid Cap 400: +10.1% YTD
S&P 500: +8.6% YTD
DJIA: +4.1% YTD
—Reviewing today's data:
April Pending Homes Sales 1.4% (Briefing.com consensus 1.6%); Prior was revised to 1.7% from 1.5%

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