Market Update
Oil prices fell below $100 per barrel following comments from President Trump indicating that Iran negotiations are in their “final stages.” The United States Oil Fund (NYSEMKT: USO) dropped by 6.6%. Meanwhile, Goldman Sachs (NYSE: GS) surged nearly 5% after being confirmed as the lead underwriter for SpaceX’s upcoming IPO, which could raise up to $75 billion at a valuation near $2 trillion, potentially making it the largest IPO in history.
As of 1:22 p.m. ET, all three major indexes were up, with the Nasdaq Composite gaining 1.1%, the Dow Jones Industrial Average rising by 0.96%, and the S&P 500 increasing by 0.76%. Nvidia (NASDAQ: NVDA) rose about 2% ahead of its earnings report, adding approximately $100 billion to its market cap. Additionally, AMD (NASDAQ: AMD) jumped 7.4% due to concerns over potential memory supply disruptions from Samsung.
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