Tech led a broad based rally today as volatility craters, with the Nasdaq up 1.64% to close at 24,657.57, easily outpacing the Dow's more modest 0.69% gain to 49,490.03. The S&P 500 added 1.05% to settle at 7,137.90, while small caps lagged with the Russell 2000 rising just 0.74% to 2,785.36, likely on lingering rate sensitivity. The VIX fell 3.49% to 18.82, signaling a meaningful unwind of hedging activity as investors bought the dip in megacap tech and AI names. Crude oil spiked 3.19% to $92.53 on pipeline disruptions and geopolitical tensions, though the market interpreted the move as a sign of resilient demand rather than a stagflation warning. Bitcoin jumped 4.02% to $78,752.69, and gold also edged higher by 0.81% to $4,757.80, creating an unusual risk-on environment where traders still kept their inflation hedges in place. Bottom line, it was a tech and commodities rally with falling fear, and all eyes now turn to tomorrow's jobs and durable goods data for confirmation.
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Posted by TorukMaktoM
1 Comment
Tech led today’s rally as the VIX dropped 3.5% to 18.82.
Nasdaq +1.64%, S&P 500 +1.05%, Dow +0.69%.
Oil jumped 3.2% to $92.53, Bitcoin +4% to $78.8K, gold up 0.8%.
Risk-on with hedges intact. Next up: jobs & durable goods.