Nasdaq 100 Rallies Over 2% On Iran-Israel Ceasefire: Stock Market Today

U.S. stocks bounced back from last week’s tech-led rout on Monday, as a halt to the semiconductor selloff and signs of de-escalation in the Middle East sparked a broad relief rally, with the Nasdaq 100 leading the way higher.

President Donald Trump posted early Monday that “both sides, Israel and Iran, are looking to do an immediate ceasefire,” shortly before Iran’s armed forces said they had ended military operations against Israel — while warning of “harsher attacks” if strikes on Lebanon resume. Israeli Prime Minister Benjamin Netanyahu struck a more guarded tone, saying Israel was “holding fire for now” but reserved “the full right to self-defense.”

Crude pared a sharper early advance as the de-escalation narrative took hold. WTI crude rose 1.0% to around $91.41 a barrel, while Brent climbed 1.6% to roughly $94.62, both well below the peak future contracts reached during the weekend’s conflict spike.

Across U.S. equity markets by midday Monday, gains were broad-based but concentrated in technology. The S&P 500 rose 0.8% to 7,440, and the Dow Jones Industrial Average edged up 0.2% to 50,958.

The Nasdaq 100 outperformed with a 2.1% jump to 29,565 as chip stocks staged a sharp recovery. Gold was little changed, ticking up 0.2% to about $4,339 an ounce.

Bitcoin (CRYPTO: BTC) rose 0.8% to above $63,000 after a 4% gain on Sunday.

Treasury yields eased from session highs but stayed elevated. The 10-year yield slipped to 4.56% after touching 4.58% earlier, the 2-year held at 4.17%, and the 30-year remained above 5%.

Friday’s blowout jobs report – 172,000 payrolls added versus 85,000 expected – has kept rate-hike fears alive, with markets pricing roughly a 52% chance of a Fed hike as soon as October and nearly 70% by December. 

Monday’s Performance In Major US Indices

According to the Benzinga Pro platform:

• The Vanguard S&P 500 ETF (NYSE:VOO) gained 0.8%.
• The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) rose 0.2%.
• The Invesco QQQ Trust (NASDAQ:QQQ) climbed 2.1%.
• The iShares Russell 2000 ETF (NYSE:IWM) rallied 1.3%.

Chip Stocks Roar Back From The Brink

The Technology Select Sector SPDR Fund (NYSE:XLK) led all groups with a 3.1% gain as semiconductors rebounded from last week’s brutal selloff, while the Utilities Select Sector SPDR Fund (NYSE:XLU) was the weakest, down 1.3%, alongside softness in real estate and materials as money rotated out of defensives.

The Energy Select Sector SPDR Fund (NYSE:XLE) added 1.1% as crude held its gains, and the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) rose 0.6%.

Among industry funds, the Invesco WilderHill Clean Energy ETF (NYSE:PBW) climbed 1.7% and the VanEck Gold Miners ETF (NYSE:GDX) rose 0.9%, while the U.S. Global Jets ETF (NYSE:JETS) dipped 0.3%.

The standout was Intel Corp. (NASDAQ:INTC), which surged 13.1% after The Information reported that Alphabet Inc. (NASDAQ:GOOGL) and Nvidia Corp. (NASDAQ:NVDA) are considering Intel as a backup chip manufacturer.

The broader chip complex roared back after last week’s rout, with Micron Technology Inc. (NASDAQ:MU) jumping 11.0%, KLA Corp. (NASDAQ:KLAC) up 10.3%, Applied Materials Inc. (NASDAQ:AMAT) gaining 9.2% and Lam Research Corp. (NASDAQ:LRCX) rising 8.4%.

All five top gainers within the S&P 500 were chip names riding the relief rally that followed last week’s Broadcom Inc.-driven (NASDAQ:AVGO) plunge, with renewed AI-trade speculation and Marvell Technology Inc.‘s (NASDAQ:MRVL) upcoming addition to the S&P 500 adding fuel.

Monday’s Russell 1000 Top Gainers

Monday’s Russell 1000 Top Losers

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