The Dow and Nasdaq are both surging triple digits this afternoon
Cooling crude prices are triggering a surge in stocks this afternoon, the tech-heavy Nasdaq Composite (IXIC) tapping a record intraday high and the Dow Jones Industrial Average (DJI) last seen up more than 270 points. The S&P 500 Index (SPX) is also sporting healthy gains, with a large batch of positive earnings reports driving investor optimism.
West Texas Intermediate (WTI) was last seen trading roughly 4% lower, just shy of $102 per barrel. Wall Street is keeping a close watch on U.S.-Iran developments, as the fragile ceasefire rides the wave of several attacks in the Strait of Hormuz.
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- Plus, put traders circle NYT; food stock surging post-earnings, and electronics giant to avoid today.
Options traders are circling New York Times Co (NYSE:NYT) stock just ahead of the company's first-quarter earnings, due out before the open tomorrow, May 6. So far 3,500 puts have been exchanged, seven times the average amount, with the May 72.50 put garnering the most attention. NYT is trading 0.6% lower at $77.77 this afternoon, headed for a third-straight drop, with support emerging from the ascending 80-day moving average. So far in 2026, the newspaper giant has added 12.3%.
Archer-Daniels-Midlands Co (NYSE:ADM) stock is one of the top stocks on the New York Stock Exchange (NYSE) today, up 5.7% to trade at $80.58. The food processing name is surging after posting a first-quarter earnings and profit beat, as well as hiking its full-year outlook. ADM is pacing for a seventh-straight win and tapped a nearly three-year high of $80.92 straight out of the gate this morning. The equity has added 41% in 2026, with resistance-turned-support stemming from the 80-day moving average.
Electronic equipment name Eaton Corporation (NYSE:ETN) is one of the worst performers on the NYSE this afternoon, last seen down 2.6% at $412.02, after the company forecast its second-quarter profit below analyst estimates. This is overshadowing an otherwise upbeat Q1 report. ETN sports a 24% year-to-date gain, but is staring down the barrel of a third-straight daily loss and worst session since November 2025.