Tech Whipsaw: Nasdaq Climbs 0.67% as Wall Street Ignores Trade War Noise

Markets pulled off their favorite magic trick today—pretending geopolitics don’t matter. The Dow edged up while tech stocks led the charge, with the Nasdaq gaining 0.67% despite fresh trade tensions that should’ve sent traders scrambling for the exits.

Another day, another disconnect between headlines and price action. Guess those algo traders found a new loophole in the ’risk-off’ playbook.

Funny how stocks always rally when portfolio managers need to window-dress their quarterly returns. Just saying.

Energy rally 

Despite the geopolitical friction, investor sentiment was buoyed by a rally in the energy sector. The S&P 500 Energy index ROSE 1%, driven by a 2.8% jump in U.S. crude-oil prices following a drone strike by Ukraine on Russian military targets. Additionally, OPEC+ announced a supply increase set for July, which further fueled gains in oil and copper futures.

Treasury yields moved higher, with the 10-year yield rising to 4.461% and the 30-year reaching a key technical level. The dollar index weakened, while the euro, pound, and yen gained.

The S&P 500 and Nasdaq are now coming off their strongest month since 2023, signaling renewed investor appetite despite global uncertainties.