S&P 500, Nasdaq Rise on Middle East Peace Deal Report
S&P 500, Nasdaq Rise on Middle East Peace Deal Report
The S&P 500 and Nasdaq gained on Thursday after a report that the U.S. and Iran had reached a deal, while investors digested key inflation data. The Dow was flat.
Deal News Boosts Markets
Axios reported that Washington and Tehran had agreed to extend the ceasefire and launch negotiations on Iran's nuclear program, pending final approval from President Donald Trump.
Inflation Data and Economic Outlook
U.S. inflation rose at its fastest pace in three years in April, driven by higher energy prices amid the Iran war. First-quarter GDP was revised lower to a 1.6% annualized increase.
Key Stock Movers
Eli Lilly advanced 4.2% after CVS restored coverage for its weight-loss drug Zepbound. Microsoft gained 2.8% on reports of a new coding model. Snowflake soared 36.3% after lifting its annual product revenue forecast and announcing a $6 billion AI deal with AWS.
Market Overview
Five of the 11 S&P 500 sectors were in the green. Advancing issues outnumbered decliners by 1.41-to-1 on the NYSE and 1.48-to-1 on the Nasdaq. The S&P 500 posted 13 new 52-week highs and 9 new lows.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
The healthcare sector index rose due to Eli Lilly's Zepbound news.
Dow Jones Industrial Average Index
The Dow Jones index was limitedly affected as the focus was on tech stocks.
S&P 500
The S&P 500 was directly positively impacted by peace deal hopes and gains in healthcare and tech sectors.
NASDAQ Composite Index
The Nasdaq rose due to strong tech stock performance and peace deal optimism.
Eli Lilly and Company
Eli Lilly was directly and strongly positively impacted by CVS restoring Zepbound coverage.
CVS Health Corporation
CVS gained a competitive advantage in the health insurance market by covering Zepbound.
Microsoft Corporation
Microsoft was directly and strongly positively impacted by news of a new coding model.
MongoDB, Inc.
MongoDB was indirectly impacted by Snowflake's positive news and its stock rose.
AeroVironment, Inc.
AeroVironment was directly positively impacted by drone funding news.
S&P 500 Information Technology
The tech sector index was positively impacted by gains in Microsoft and other tech stocks.
Marvell Technology, Inc.
Marvell Technology dipped after first-quarter results, but the impact was limited.
Snowflake Inc.
Snowflake was very strongly positively impacted by raising its annual revenue forecast and signing a major AI deal with AWS.
Amazon.com, Inc.
Amazon Web Services was positively impacted by the $6 billion AI deal with Snowflake, but the effect is indirect.
Datadog, Inc.
Datadog was indirectly impacted by Snowflake's positive news and its stock rose.
Dollar Tree, Inc.
Dollar Tree was directly and strongly positively impacted by raising its full-year profit forecast.
Best Buy Co., Inc.
Best Buy was directly positively impacted by forecasting second-quarter sales above estimates.
Unusual Machines, Inc.
Unusual Machines was very strongly positively impacted by news of Trump administration talks to fund drone firms.
Kratos Defense & Security Solutions, Inc.
Kratos Defense was positively impacted by drone funding news.
The news, analyses, and comments on this platform do not constitute investment advice. When making investment decisions, you should conduct your own research and consult with a qualified financial advisor if necessary. FiNews cannot be held responsible for any losses that may arise from the use of this information.
More Headlines
Tokyo Core Inflation Slows, Remains Below BOJ Target
Tokyo Core Inflation Slows, Remains Below BOJ Target
…Nikkei May Rise on Hopes for U.S.-Iran Peace Deal
Nikkei May Rise on Hopes for U.S.-Iran Peace Deal
…Australian Pension Fund HUB24 Faces Regulatory Scrutiny
Australian Pension Fund HUB24 Faces Regulatory Scrutiny
…