Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher on Tuesday after Defense Secretary Pete Hegseth confirmed the U.S. ceasefire with Iran is still in place.
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New trading tool for QQQ bullsThat comes despite repeated aggressions by Iran, including attacking 10 U.S. targets, firing at commercial vessels nine times, and seizing two container ships, according to Joint Chiefs Chair Gen. Dan Caine. Restarting the war is “a political decision above my pay grade,” he added.
Oil Pulls Back From Multi-Year Highs
Meanwhile, Brent crude (BZ), the international benchmark for oil, is down by nearly 3% on the day while still trading at multi-year highs.
Elsewhere, semiconductor and memory stocks are driving the market higher, with Intel (INTC), Micron (MU), and Western Digital (WDC) all up by at least 6%. On the other hand, several software stocks are dragging performance lower, including Salesforce (CRM), ServiceNow (NOW), and Adobe (ADBE).