After opening in negative territory, both the S&P 500 (SPX) and the Nasdaq 100 (NDX) staged recoveries as the rally continues. Semiconductor and memory stocks continue to lead the way, with Micron (MU), Qualcomm (QCOM), and Nvidia (NVDA) all trading higher.
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New trading tool for QQQ bullsWall Street has been unable to ignore the rally. Earlier today, HSBC raised its 2026 S&P 500 price target to 7,650 from 7,500, while Yardeni Research lifted its outlook to 8,650 from 7,700. Both firms cited strong earnings as analysts continue to raise their estimates.
Markets Shrug Off U.S.-Iran Tensions As Ceasefire Faces Pressure
Investors have largely brushed aside mounting tensions between the U.S. and Iran. Over the weekend, Iran submitted a counterproposal to end the war, although President Trump said the terms were “totally unacceptable,” adding that the ceasefire is on “massive life support.”
U.S. officials told Axios that Trump is considering air strikes against Iran and resuming “Project Freedom” in order to pressure the country into accepting the terms set forth by the U.S., which include transporting its enriched uranium stockpile to a third country and agreeing to a moratorium on enrichment.