Nasdaq Composite Today: COIN, BKNG, ON Are Tailwinds

If there was any question the the tariff headlines were the reason behind the rut, they’ve been erased today. The markets are experiencing much-needed relief

The Nasdaq Composite is reporting gains of 1.6% this morning, outpacing the smaller advances of 1% or less in both the Dow Jones Industrial Average and S&P 500 index. Together, the indexes are tacking on over 500 points to their collective total.

Each of the sectors of the economy tracked by Bloomberg are trading in the green today, led by consumer discretionary stocks with a 2.9% advance.

Cryptocurrency exchange Coinbase (NASDAQ:COIN) is gaining 4% on the day and contributing to the Nasdaq’s positive performance. The Trump administration’s friendly position on the blockchain industry has been a tailwind, as Coinbase would benefit from greater mainstream adoption of digital assets.

ON Semi (NASDAQ:ON) is also tacking on about 4% today. The stock is a play on both the semiconductor and electric vehicle space and has partnerships with companies like Volkswagen. The E-mini PHLX Semiconductor index is up 2.8% this morning.

Most of the Magnificent 7 stocks are rising this morning, led by Tesla (NASDAQ:TSLA)’s 8% advance. There is bullish options activity unfolding in the stock.

United Airlines (NASDAQ:UAL) is soaring 5% on the day on reports the airline will be raising its prices on credit cards and luxury lounge access, paving the way for greater revenue.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 504.16 (+1.2%)

Nasdaq Composite: Up 335.38 (+1.8%)

S&P 500: Up 83.74 (+1.5%)

Key Points:

The markets came out of the gate strong, led by the Nasdaq Composite.

Tariffs are continuing to provide a tailwind for the markets.

Most of the Mag 7 stocks are advancing, led by Tesla on bullish options activity.

S&P 500 Rebalance: Who’s In and Out

The S&P 500 is welcoming the following stocks following a rebalancing. Here’s how they are trading:

DoorDash (NASDAQ:DASH) up 1.77%

TKO Group (NYSE:TKO) down 1.11%.

Williams-Sonoma (NYSE:WSM) up 1.6%

Expand Energy (NASDAQ:EXE) up 0.75%

The S&P 500 is releasing the following names. Here’s how they are trading:

BorgWarner (NYSE:BWA) up 2.1%

Teleflex (NYSE:TFX) up 0.22%

Celanese (NYSE:CE) up 2.3%

FMC (NYSE:FMC) up 0.5%

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