US stocks jump, Nasdaq 100 posts record close
Risk appetite is back as Middle East tensions look to be getting farther and farther away in the rearview mirror of your robotaxi.
The Nasdaq 100 closed up 1.5% to hit a fresh closing high for the first time since February, the S&P 500 rose 1.1%, and the Russell 2000 gained 1.3% on the day.
Uber leapt over 7%, helping lead gains, after the ride-hail giant announced a partnership with Waymo to offer autonomous rides in Atlanta. Occidental Petroleum and defense names Northrop Grumman and Lockheed Martin were among the decliners, each falling more than 2% as geopolitical tensions began to cool.
Elsewhere…
A basket of retail darlings that includes Coinbase, Broadcom, Nvidia, and GameStop hit its first intraday and closing record high since November 2021 as traders doubled down on the basket of AI and crypto-adjacent plays.
Carnival sailed up 7% after posting record Q2 earnings and raising its full-year guidance as cruise bookings stay strong going into next year.
Intel popped 6% after the chipmaker said it would sunset its architecture automotive group and lay off “most” employees in the division.
Lyft shares rose 6% after TD Cowen upgraded the stock to “buy” and lifted its price target to $21, or about 40% above its current trading levels.
Micron shares rose nearly 5% a day before the chipmaking giant is set to release its third-quarter earnings results.
Fiserv and Mastercard were up 1.2% and 2.8%, respectively, after announcing a partnership to integrate the FIUSD stablecoin into a range of Mastercard products and services.
Teladoc ticked up 1.3% after jumping 15% Monday on a bullish note from Citron Research, which called the stock a “coiled spring.”
