Despite an early pullback as the U.S.-Iran ceasefire inspires less confidence by the hour, the Dow Jones Industrial Average (DJI) has pared losses to trade up 83 points at midday, while the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) also inch higher. Should these newfound gains hold, the latter two will log a seven-day win streak.
Stubborn oil prices are keeping pressure on gains, with West Texas Intermediate (WTI) back above $100. Elsewhere, the Fed's preferred inflation gauge, the core personal consumption expenditures (PCE) price index, matched expectations for February with a 3% rise, further reinforcing the central bank's rate cut pause at its meeting later this month.
Lumentum Holdings Inc (LITE) stock is seeing an uptick in options volume today. At last check, 32,000 contracts had changed hands, volume that's double the average intraday amount and in the 100th percentile of its annual range. The weekly 4/10 1,000-strike call is the most popular, with new positions being bought to open. LITE is 2.5% higher to trade at $918.99, and earlier tapped a record high of $960, thanks to a bull note from J.P. Morgan Securities to $950 from $565. The optical infrastructure stock is 145% higher in 2026 and 1,434% higher in the last 12 months.
GE Vernova Inc (GEV) is near the top of the New York Stock Exchange (NYSE) today, last seen up 2.6% to trade at $960.39 after a price-target hike from Susquehanna to $1,080 from $820. GEV also managed to tap an all-time high of $972.50 and is now up 48% in 2026.
Palantir Technologies Inc (PLTR) stock is near the bottom of the Nasdaq, down 7.4% to trade at $130.37 at last look. Famed investor Michael Burry posted on social media that Anthropic is "eating Palantir's lunch," citing competition concerns for the software giant. Palantir stock is heading for its lowest close in six weeks, breaching support at its ascending 320-day moving average. Year to date, PLTR is down 27%.
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