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The markets came out of the gate with gains but have since come off their best levels of the day despite overall optimism. The S&P 500, having overcome year-to-date losses, is now showing positive returns for 2025. Bolstered by trade optimism stemming from U.S.-China developments and increasing confidence in avoiding a recession, markets are looking to capitalize on their current momentum. The SPY ETF is trading flat as of mid-morning.
Riding a five-day wave of gains, the Nasdaq Composite aims to continue its upward trajectory. The Nasdaq is also poised to welcome a new player to its ranks. Fintech innovator Chime has announced its decision to go public and will list its shares on the exchange. The Dow Jones Industrial Average is getting a boost from Boeing (NYSE: BA), which reportedly made a $200 billion deal with country Qatar amid the Trump administration’s visit.
President Trump’s recent visit to Saudi Arabia has yielded significant economic commitments. The Kingdom has pledged up to $600 billion in deals and investments, with U.S. companies expected to be major beneficiaries. Notably, Nvidia (Nasdaq: NVDA) will supply thousands of AI chips to Saudi Arabia, and Elon Musk’s Starlink has received approval to operate within the country.
Here’s the market snapshot from morning trading:
Dow Jones Industrial Average: Up 54.47 (+0.15%)
Nasdaq Composite: Up 66.22 (+0.37%)
S&P 500: Up 3.91 (+0.08%)
Market Movers
Costco (Nasdaq: COST) and Affirm (Nasdaq: AFRM) have forged a partnership to offer buy now, pay later options for bulk purchases. COST stock is trading slightly higher, while AFRM shares have jumped over 3% this morning.
Server manufacturer Super Micro Computer (Nasdaq: SMCI) continues its impressive climb, surging nearly 16% today.
Palantir Technologies (Nasdaq: PLTR) is also on the rise, gaining 2.7% and approaching its record high once again.
Advanced Micro Devices (Nasdaq: AMD) is a significant gainer, up 8.6% as the chip sector enjoys tailwinds from eased tariff concerns. Adding to the positive sentiment, AMD has announced a substantial $6 billion stock repurchase program.
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