Nasdaq today rose alongside other major U. S. and Canadian indexes as a retreat in oil prices and fresh tech momentum pushed markets higher, even while the conflict in the Middle East continued to shape investor caution.
Nasdaq Today: Tech Stocks and AI News Propel Early Strength
Tech names were among the top drivers of the morning bounce. Meta was listed as one of the top gainers after a report said the company was preparing for sweeping AI-related layoffs. Nvidia — whose founder and CEO is set to detail the company’s hardware — also factored into the mood that favored technology shares.
At the U. S. open the Nasdaq Composite had climbed, and by 10: 00 am ET the index was about 1. 3% higher as broader market advances accelerated. The S&P 500 jumped roughly 1. 2% by midmorning, while the Dow showed a strong lift as well.
Falling Oil Prices Ease Pressure; Markets See Best Day Since Conflict Began
Oil’s pullback was the immediate catalyst for the rally. Benchmark U. S. crude fell 5. 3% to $93. 57 a barrel, while Brent dropped 2% to $101. 09 after earlier peaks above $106. 50. U. S. crude had earlier topped $102 before retreating, giving markets a reprieve from the spike that followed the recent escalation in the region.
The strain on global energy flows has been linked to the disruption of shipping through the Strait of Hormuz. That closure had driven the earlier surge in prices by effectively taking a significant volume of crude off the market. Political leaders weighed in publicly on responsibility for reopening the passage; one prominent message urged other affected nations to address the closure and said that the United States would help.
Falling fuel costs helped lift sectors with big energy bills and contributed to what was described as the market’s strongest day since the war-related volatility began, though commentators warned that swings can reverse quickly if the situation in the region changes.
North American Indexes, Canadian Inflation Signals and What Moved the Tape
Markets in Canada opened with modest gains. At 9: 31 am ET, the S&P/TSX composite index was up 0. 08% at 32, 569. 06 points. U. S. benchmarks showed gains from the open: the Dow Jones Industrial Average rose 148. 9 points to 46, 707. 4 at the opening bell, the S&P 500 was up 42. 2 points to 6, 674. 37, and the Nasdaq Composite had climbed 235. 0 points, or about 1. 06%, to 22, 340. 388 at the open.
By 10: 00 am ET the Dow had moved higher still, gaining roughly 513 points, reflecting the broader lift tied to lower oil and strength in technology. Stocks of companies with heavy fuel costs and some consumer names that had been pressured earlier in the year posted notable recoveries.
Domestic inflation data in Canada showed headline inflation at 1. 8% for February versus expectations of 1. 9%. Economists interpreted the softer-than-expected reading as evidence of subdued underlying inflationary pressures heading into the energy shock. One macro strategist highlighted that the Bank of Canada’s preferred core measures looked “very tame, ” noting the average of selected core metrics had decelerated and that policymakers could look through an energy-driven spike. Other economists pointed out that moderation in core inflation and a weak labour survey argue against near-term rate hikes, while also flagging the risk that sustained higher oil could complicate the outlook.
Trading remained sensitive to developments in the Middle East and to any further movement in oil. Market participants were attentive to upcoming corporate and economic updates that could shift risk appetites again as the day progresses.
