Major benchmarks secured a day of healthy gains, with both the Dow and Nasdaq adding over 200 points. The S&P 500 also finished confidently higher, as investors were emboldened by crude prices cooling off and Middle East fears going on the back burner.
Big Tech bolstered the upbeat sentiment, with Tesla (TSLA) earning an upgrade and chip stocks Advanced Micro Devices (AMD) and Micron Technology (MU) both adding roughly 6%. Meanwhile, the Fed's Beige Book suggested a soft advance in the economy over the last seven weeks.
Black Gold Finally Cools Off
Oil finished flat, a welcome reprieve from its torrid pace, after Treasury Secretary Scott Bessent reassured that the U.S. would escort ships through the Strait of Hormuz if needed. March-dated West Texas Intermediate (WTI) crude added 10 cents to settle at $74.66 per barrel.
A surge in safe-haven bets and easing U.S. dollar gave gold futures a lift today. April-dated gold futures added 0.2% to settle at $5,134.70 an ounce.
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