All three major indexes are eyeing a third-straight win as earnings remain in focus, with Bank of America (BAC) surging on a strong first-quarter report, while Johnson & Johnson (JNJ) is brushing off a quarterly beat. Uncertainty lingers, however, as investors brace for more earnings and potential fallout from President Donald Trump’s evolving tariff policy.

Reversing pre-market losses, the Dow Jones Industrial Average (DJI) was last seen up 155 points, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher as well. Meanwhile, Wall Street’s "fear gauge" -- the Cboe Volatility Index (VIX) -- is now pacing for its fourth loss in five session as it cools off from last week’s spike.

Hewlett Packard Enterprise Co (NYSE: HPE) stock is seeing unusually heavy options volume, with more than 29,000 calls and 7,598 puts exchanged so far today -- triple the average intraday amount. New positions are being opened at the most popular contract, the April 15.50 call. HPE was last seen 4.1% higher at $14.87, after Elliott Management took a more than $1.15 billion stake in the technology company. Despite today's pop, the stock is 30% lower in 2025, though it's distancing itself from an April 4 retreat to $11.96 -- its lowest level since September 2022.

Rocket Lab USA Inc (Nasdaq: RKLB) stock is one of the Nasdaq’s top performers today, up 7.7% to trade at $20.61 at last check, after the aerospace firm secured key roles in two hypersonic technology programs backed by the U.S. and U.K. governments. As part of the multi-billion-dollar initiatives, Rocket Lab will offer its HASTE (Hypersonic Accelerator Suborbital Test Electron) launch vehicle, along with design and engineering services. The stock has skyrocketed 482.3% over the last 12 months.

Allegro MicroSystems Inc (Nasdaq: ALGM) stock is sinking this afternoon, last seen down 12.2% at $19.34, after ON Semiconductor (ON) withdrew its buyout bid after hiking its offer to $35.10 per share -- valuing Allegro at roughly $6.9 billion. The tech company rejected the deal, deeming it "inadequate." The shares are now down 9.8% in 2025.

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