Investors are cheering the fall of oil prices and temporary Middle East ceasefire
The Dow Jones Industrial Average (DJI) is up 1,081 points this afternoon as oil prices cave and risk-on attitude returns in the wake of the two-week U.S.-Iran ceasefire. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also breaking out, with both indexes on track for a sixth-straight gain, their longest win streak since October. While details of the truce are muddled, investors are piling back into speculative names, with the small cap Russell 2000 Index (RUT) back above 2,600, while the Cboe Volatility Index (VIX) is on track for its lowest close in over a month.
- Copper stock welcomes geopolitical tailwinds.
- Delta's earningswere so good they lifted a sector peer.
- Plus, AEHR in rarefied air; and two sectors responding to the ceasefire.
Aehr Test Systems (NASDAQ:AEHR) is seeing a surge in options activity today. At midday, 24,000 calls have changed hands, volume that's 10 times the average intraday amount and triple the number of puts traded. The April 65 call is the most popular, where new positions are being bought to open. AEHR was last seen up 22.9% at $61.77, after the semiconductor supplier reported a slimmer-than-expected fiscal second quarter loss and issued an upbeat bookings forecast. AEHR earlier secured a record high of $66.28, and is now up 197% in 2026 and 784% in the last 12 months.
Carnival Corp (NYSE:CCL) is near the top of the New York Stock Exchange (NYSE), last seen up 10.8% to trade at $27.95. Cruise stocks across the board are higher as part of the travel stock bump today. Year-over-year, CCL is up 67%.
Chevron Corp (NYSE:CVX) stock is dragging the Dow and near the bottom of the NYSE, down 5.3% to trade at $190.84. Profit taking and the oil price pullback are the culprit, with CVX hitting an all-time high of $214.71 on March 30. Despite the losses, XOM is up 24.8% year to date and has support in place at its 50-day moving average.
