US Stocks Close Higher On Tuesday As Oil Continues To Gain; Markets Look Past New Worries From Iran War

Oil prices continued their ascent as Iran targeted more energy and oil infrastructure in the Middle East.

• The benchmark indices closed higher, led by gains in Micron Technologies, SanDisk, Expedia, and Booking Holdings.
• Strong revenue guidance from Delta Airlines also boosted the stock.
• Futures for Brent crude, the international benchmark, rose 3.2% to $103.42 a barrel.

U.S. stocks closed higher on Tuesday as investors looked past new concerns developing amidst the Iran war.

The S&P 500 closed up 0.25% at 6,716.09, and the Nasdaq Composite climbed 0.47% to finish at 22,479.53. The Dow Jones Industrial Average added 46.85 points, or 0.1%, to end at 46,993.26, according to data from CNBC.

The indices closed higher, led by gains in Micron Technologies (MU), Sandisk (SNDK), Expedia Group (EXPE), and Booking Holdings (BKNG). Strong revenue guidance from Delta Airlines (DAL) also boosted the stock.  

Oil prices continued their ascent as Iran targeted more energy and oil infrastructure in the Middle East. Futures for Brent crude, the international benchmark, rose 3.2% to $103.42 a barrel.

Stocks In Focus

Oklo (OKLO) : Oklo received DOE’s approval for the Nuclear Safety Design Agreement (NSDA) for Atomic Alchemy’s Groves Isotopes Test Reactor in Texas under the DOE’s Reactor Pilot Program (RPP).

SoFi Technologies (SOFI): Short seller Muddy Waters Research revealed a short position in SOFI shares on Tuesday.

Meta Platforms (META): The company reportedly said that Quest users will not be able to access Horizon Worlds, a move that indicates the company’s retreat from metaverse.

The Trade Desk (TTD): A report said that Publicis Groupe advised clients that it would no longer recommend the company as a demand-side platform (DSP) for digital media buying.

Delta Airlines (DAL): Delta raised its first-quarter revenue forecast to between $15 billion and $15.3 billion.

U.S. equities climbed in extended hours of trading on Tuesday. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was marginally up by 0.04%, the Invesco QQQ Trust ETF (QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) were up 0.03%.

The United States Oil Fund (USO), which tracks the daily price movements of West Texas Intermediate (WTI) light, sweet crude oil, was marginally down. 

Retail sentiment around SPY trended in the ‘extremely bearish’ territory amid ‘high’ message volume.

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