The Nasdaq Composite (NASDAQINDEX: ^IXIC) is up 0.03% as of 12:26 p.m. ET, the S&P 500 (SNPINDEX: ^GSPC) is down 0.17%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) has fallen 0.31%, or roughly 200 points. The Dow went red minutes after the open and stayed down.
The Nasdaq spent most of the morning in positive territory before drifting toward breakeven. This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » The June 17 memorandum of understanding between Washington and Tehran hit its 60-day deadline Monday with nothing signed. A senior Iranian official told that Tehran is going "fully offensive" and would use its military to break the U.S. naval blockade if talks fail.
President Trump, for his part, told Fox News he is in no rush and threatened to bomb Oman if it gets in the way of negotiations. Oman, for the record, has been trying to mediate the Iranian conflict. Shipping through the Strait of Hormuz has essentially stopped.
Three vessels crossed on Sunday against roughly 130 daily before the war began in February. Brent crude rose 0.7% to $89.13, which is a quiet day by recent standards. Meanwhile, memory chips continue their remarkable run.
SK Hynix (NASDAQ: SKHY) rose 6.5% and added roughly $83 billion in market value. Micron Technology (NASDAQ: MU) climbed 5.9% and rose above $1,000 per share again. On a related note, Nvidia (NASDAQ: NVDA) rose 0.9% on news it will finance up to $105 billion in credit and compute for an OpenAI data center in Pike City, Ohio.
Extract — continue reading at the source.
