Tech Leads, Dow Lags As Oil Holds Near $92: What's Moving Markets Wednesday?
U.S. stocks were mixed at midday Wednesday, with technology stocks leading gains while industrials dragged the Dow lower, as investors balanced strong earnings with persistent geopolitical uncertainty around Iran.
President Donald Trump said Wednesday the conflict was "very close to over," adding that oil prices would "come dropping down."
The disconnect between political optimism and still-disrupted shipping flows through the Strait of Hormuz has left investors pricing a cautious middle ground between de-escalation hopes and ongoing supply risks.
That tension kept the rally selective into midday, with growth stocks outperforming while cyclical sectors lagged.
West Texas Intermediate crude rose 0.7% to $91.96 a barrel, while Brent crude added 0.9% to $95.63, holding near multi-week highs despite easing geopolitical rhetoric.
The 10-year Treasury yield climbed to 4.29%, up 4 basis points, as safe-haven demand eased slightly. Gold slipped 0.7% to $4,808, with SPDR Gold Shares (NYSE:GLD) declining in tandem.
Across U.S. equity markets by midday Wednesday, performance remained uneven, with large-cap growth stocks driving gains.
The S&P 500 rose 37 points, or 0.5%, to 7,004.51, while the Dow Jones Industrial Average fell 199 points, or 0.4%, to 48,336.49, weighed down by industrial names.
The Nasdaq 100 gained 1.0% to 26,099.91. Within Magnificent Seven stocks, Tesla Inc. (NASDAQ:TSLA) surged, while Microsoft Corp. (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META) and Nvidia Corp. (NASDAQ:NVDA) traded higher.
The Russell 2000 was flat at 2,706.96.
Wednesday’s Performance In Major US Indices
| Index | Last | % Change | MTD | YTD |
|---|---|---|---|---|
| S&P 500 | 7,004.51 | +0.5% | +4.5% | +2.2% |
| Dow Jones | 48,336.49 | -0.4% | +3.0% | +0.5% |
| Nasdaq 100 | 26,099.91 | +1.0% | +5.7% | +3.2% |
| Russell 2000 | 2,706.96 | +0.0% | +8.1% | +9.3% |
According to the Benzinga Pro platform:
- The Vanguard S&P 500 ETF (NYSE:VOO) gained 0.5%.
- The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) fell 0.4%.
- The Invesco QQQ Trust (NASDAQ:QQQ) climbed 1.0%.
- The iShares Russell 2000 ETF (NYSE:IWM) was flat.
Wednesday’s Russell 1000 Top Gainers
| Name | % change |
|---|---|
| Tempus AI Inc. | +10.44% |
| Fermi Inc. (NASDAQ:FRMI) | +10.04% |
| Robinhood Markets Inc. | +9.33% |
| Atlassian Corp. | +8.44% |
| DoorDash Inc. | +8.06% |
Wednesday’s Russell 1000 Top Losers
| Name | % change |
|---|---|
| Carrier Global Corp. | -10.12% |
| Lennox International Inc. | -8.81% |
| CNH Industrial N.V. (NYSE:CNH) | -7.82% |
| Lucid Group Inc. (NASDAQ:LCID) | -7.22% |
| Avis Budget Group Inc. (NASDAQ:CAR) | -7.02% |
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