Investors are hopeful the war with Iran will come to an end soon
Stocks are eyeing a strong March finish, with the Dow Jones Industrial Average (DJI) up 514 points. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) sport outsized leads of their own, with all three major indexes eyeing their best single-session gains since Feb. 6. Investors are brushing off elevated oil prices after President Donald Trump appeared willing to end the war with Iran, even if the Strait of Hormuz remained mostly shuttered.
Despite today's gains, all three benchmarks remain on track for severe monthly and quarterly losses. In fact, the Dow and S&P 500 are pacing for their worst months since September 2022 and their worst quarters since June 2022.
Centessa Pharmaceuticals PLC (NASDAQ:CNTA) stock is surging today, last seen 44.7% higher to trade at $39.90 on news that Eli Lilly (LLY) will acquire the company for $6.3 billion. Options traders are targeting CNTA in response, with 2,981 calls and 1,077 puts exchanged so far -- 19 times the volume typically seen at this point. Most active is the April 30 call, with positions being sold to open at the May 40 put. CNTA is eyeing its best day on record and earlier surged to a fresh all-time high of $40.26. In the last nine months, the stock has added 203.8%.
Factset Research Systems Inc (NYSE:FDS) stock is leading the SPX today, up 6.3% to trade at $217.43 at last check. This surge comes after the financial data and software giant reported better-than-expected fiscal-second quarter earnings and revenue. FDS is eyeing its fourth-straight win and best single-day percentage pop since June 2022. The shares are also eyeing a close above their 40-day moving average for the first time since January, but still carry a 24.2% deficit for 2026.
Meanwhile,
Constellation Energy Corp (NASDAQ:CEG) stock is at the bottom of the SPX, last seen down 8.7% at $272.59, after the company issued a 2026 profit forecast that came in below expectations. CEG has been struggling to conquer resistance from the 80-day moving average since late February. Year to date,
the energy stock has shed 22.7%.
