Stocks are up off the mat midday, with the Dow Jones Industrial Average (DJIA) reclaiming 50,000. The beaten-down semiconductor sector is leading the rally, with iShares Semiconductor ETF (SMH) up 2.7% at last look. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are modestly higher as well, as investors brush off the latest Iran threats from President Donald Trump.
Stubborn oil prices are keeping a cap on gains, with West Texas Intermediate (WTI) back above $90 per barrel. Wholesale prices rising above expectations for May is another overhang today, though the building buzz over SpaceX's initial public offering (IPO) tomorrow is enough of a boost for now.
Options traders can't get enough of Virgin Galactic Holdings Inc (SPCE) stock today. At last look, 119,000 calls have changed hands, volume that's double the average intraday amount and nearly quadruple the number of puts traded. The weekly 6/12 5-strike put is the most popular, while the 5- and 6-strike calls in the same weekly series are close behind. SPCE is up 16% to trade at $5.49, building momentum ahead of the SpaceX IPO.
Velo3D Inc (VELO) is near the top of the Nasdaq today, up 32% to trade at $30.13. The 3D printing and top stock pick of 2026 popped 16.7% yesterday after the company announced a partnership with Aurelia Technologies to advance next-gen gas turbine systems. SpaceX buzz is extending the rally. VELO is now up 119% in 2026, and earlier hit a two-year high of $30.44.
Adobe Inc (ADBE) stock is near the bottom of the Nasdaq, down 5.3% to trade at $220.82 and earlier falling to a nearly eight-year low of $220.17. Oracle (ORCL)'s (ORCL) capex headwinds are impacting the software sector ahead of Adobe's trip in the earnings confessional after the close today. Year to date, ADBE is down 36%.
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