Stocks climb as bond yields and oil prices fall
All eyes are on tonight’s Q1 2027 earnings from the world’s largest company.
Stocks climbed broadly as a pullback in Treasury yields lifted sentiment.
Energy was the worst-performing sector as oil prices fell on end-of-war optimism, with President Trump saying that the US and Iran were in the “final stages” of negotiations. Consumer discretionary was today’s best-performing sector, which got a boost as airlines and cruise lines rallied on cheaper fuel costs. Information technology was the second-best performer as semiconductors surged ahead of tonight’s Q1 earnings report from Nvidia.
All of the Magnificent 7 names rose except for Alphabet, which finished flat.
Moving higher:
Nvidia climbed ahead of its Q1 earnings report after market close, lifting the entire semiconductor sector with AMD, Arm, Marvell Technology, and Astera Labs all surging.
Oil-sensitive travel stocks Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, Carnival, and Norwegian Cruise Line all surged as oil prices plunged, cutting one of the biggest input costs for travel operators.
T1 Energy spiked on record call volumes after a Roth analyst called a recent short report a buying opportunity.
AMC popped after a filing showed CEO, Chairman, and President Adam Aron bought 250,000 shares yesterday.
Boeing jumped after China confirmed an agreement to buy 200 jets, a major order that had been in limbo amid trade tensions.
Micron climbed on reports of a looming strike at Samsung that could constrain memory chip supply and benefit competitors.
Cava rallied after beating Q1 estimates and raising full-year guidance after the bell yesterday.
Lowe’s edged up after beating estimates despite what management called a “challenging housing macro” environment.
GameStop climbed after boosting its stake in eBay to over 6% after its takeover offer was rejected.
Roblox got a boost after unveiling its first-ever share repurchase program after the bell yesterday.
Hyperliquid Strategies soared as its ETFs topped inflows while the HYPE token lit up.
Moving lower:
Despite a Q1 earnings beat, Target sank on expense concerns that overshadowed its raised guidance.
Ubisoft dropped after delaying its profit and cash flow targets by a year as its corporate reboot drags on.
Intuit fell after announcing it will cut 17% of its workforce to streamline operations and pivot toward AI.
