Tech Stocks Rally, Micron Up 5.5%
Stocks rallied early in session on Wednesday and then sustained their gains while the fear-gauge Vix index retreated from the 24-handle to a low-20 as investors appear to be growing less nervous around the prospects of a protracted conflict in the Middle East. Traders snapped up the beaten-down Tech names - especially Memory, with Micronup a strong 5.5%. Large-cap Consumer Cyclicals also traded notably firmer, as Amazonand Teslapaced the group with gains of over 3%. Crypto stocks were likewise notably higher - Coinbasewas one of the S&P 500's best performing names, gaining 15%, and Robinhoodfollowed closely with an 8% rally. In turn, Energy stocks sagged, even though Crude Oil remains above $75 per barrel.In the opening hour of the evening session, S&P 500 e-minis and Nasdaq 100 futures are up 0.3% and 0.4% respectively.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Veeva Systemsup 10.9%Oomaup 10.9%Cracker Barrelup 6.6%Broadcomup 5.0%Oktaup 1.9%ALSO HIGHER -The Trade Deskup 9.1% after OpenAI ad partnership reportGraphic Packaging Holdingup 5.9% after insider buyDOWN AFTER EARNINGS -Grocery Outletdown 21.4%PepGendown 17.1%StubHub Holdingsdown 9.5%American Eagledown 2.1%ALSO LOWER -IREN Limiteddown 5.3% after purchase agreements for over 50,000 Nvidia B300 GPUs
