The Nasdaq composite and other major stock indexes took a hit on Friday despite coming off their lows. Super Micro Computer lost nearly a third of its value as investors shifted to Dell, which is seen benefiting from the decline in Supermicro’s performance. Nvidia and Palantir Technologies also fell victim to widespread selling on the market.
The hardest-affected index was the Russell 3000. The US sent Marines to Iran amid tensions, causing concern among investors. The Dow Jones index also declined. However, some stocks managed to gain momentum, including FedEx, which flashed a buy signal after releasing earnings. Planet Labs and Karman scored breakouts on their results, while LandBridge, Micron, and Solaris experienced strong rallies in the small-cap segment.
The tensions surrounding Iran and the US’s actions had a significant impact on the stock market. Despite this, oil prices retreated, leading to a modest rally in the overall market. The Dow Jones futures fell after President Trump made comments about lifting sanctions, but Caterpillar managed to hit key levels amid the pullback.
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-super-micro-smci