Chevron shares rose 1.5% to $183.26 Wednesday as Brent crude settled up 4.35% and U.S. crude gained 4.59% on renewed geopolitical risk. Exxon Mobil climbed 2.8% and ConocoPhillips 1.4%. Traders cited U.S.-Iran
Mastercard shares rose 1.6% after the company announced a partnership with Ericsson to expand digital money transfers via its Mastercard Move platform.
Johnson & Johnson shares rose 0.4% to $244.36 Wednesday after announcing a $1 billion cell therapy manufacturing facility in Montgomery County, Pennsylvania.
UnitedHealth shares slipped 0.1% to $288.83 Wednesday as a new study reported nearly 3 million Medicare Advantage enrollees had to switch plans in 2026 due to insurer exits. UnitedHealthcare accounted for 14% of disruptions, with higher rates in rural areas. CMS set a Feb. 25 deadline for comments on 2027 Medicare Advantage proposals, with a rate announcement due by April 6.
Intuit shares climbed 3.5% to $392.42 in Wednesday afternoon trading, rebounding from Tuesday’s drop. The stock remains down about 40% year-to-date amid
Robinhood shares rose 0.6% to $75.90 after launching a roadshow for its first closed-end venture fund aimed at retail investors, with plans to list 40 million shares at $25 each on the NYSE under “RVI.” The company also announced free tax filing for eligible customers through a partnership with april. Coinbase was little changed, while Schwab and Interactive Brokers gained over 2% as bitcoin fell 2%.
Lumentum shares slipped 0.1% to $599.55 in Wednesday afternoon trading after a volatile two-day surge. Mizuho raised its price target to $645 from $525. Investors await management appearances on Feb. 26 and March 17 for further guidance. The stock is up about 673% over the past year.
Albemarle shares rose about 3% Wednesday after a Bank of America upgrade, despite benchmark lithium carbonate and hydroxide indices falling 2.1% and 4.7%. The Global X Lithium & Battery Tech ETF gained 2.3%. Investors are awaiting SQM’s results next week for further signals on lithium demand and pricing.
NYMEX RBOB gasoline futures rose about 2.5% to $1.96 a gallon Wednesday as oil prices jumped over 3% on renewed geopolitical supply risks. Brent crude climbed $2.38 to $69.80 a barrel, while U.S. WTI gained $2.39 to $64.72. Traders await U.S. inventory data from the API later Wednesday and the EIA on Thursday. AAA reported the national average for regular gasoline at $2.923 a gallon.
Front-month NYMEX heating oil futures jumped 11.4 cents to $2.5049 per gallon Wednesday, tracking a sharp rebound in crude as Middle East tensions resurfaced. Traders cited renewed risk around Iran and the Strait of Hormuz. The move followed a drop Tuesday on signs of progress in U.S.-Iran talks. Market focus now shifts to U.S. fuel inventory data due Thursday.
Brent crude futures jumped 4.1% to $70.19 a barrel Wednesday as Middle East supply fears resurfaced after Iran briefly shut the Strait of Hormuz during military drills. U.S. WTI rose 4.3% to $64.93. Traders cited U.S.-Iran tensions, shifting U.S. naval deployments, and stalled Russia-Ukraine talks as drivers. Reuters reported odds of U.S. strikes on Iran by end-April at 65%.
Brent crude rose 3.5% to $69.80 and WTI gained 3.8% to $64.72 by midday in New York after Iranian drills temporarily closed parts of the Strait of Hormuz and Russia-Ukraine talks stalled. Traders cited geopolitical risks as the main driver. Markets await U.S. inventory data and Federal Reserve minutes for further direction.
Carvana shares climbed 3.5% to $363.35 Wednesday ahead of quarterly earnings due after the bell, with options pricing signaling a potential 13.5% swing by week’s end. A new SEC filing showed T. Rowe Price held 12.6% of Carvana as of Dec. 31. Analysts expect EPS of $1.13 on $5.26 billion revenue. Carvana will hold its earnings call at 5:30 p.m. ET.
U.S. stocks climbed Wednesday, with the Dow up 280 points and the Nasdaq gaining 1.3% by late morning, as Nvidia rose 2.3% after a supply deal with Meta. Durable goods orders fell 1.4% in December, but core capital goods orders rose 0.6%. Factory output increased 0.6% in January. The 10-year Treasury yield hovered near 4.08% ahead of the Fed minutes release.
Spotify shares climbed as much as 5.2% Wednesday after SeatGeek announced it will sell primary tickets through Spotify’s concert discovery. The stock pared gains and turned volatile after Google unveiled a music-generation tool in its Gemini app, raising fresh concerns about AI’s impact on music platforms. Spotify traded up 3.3% at $477.88 by early afternoon. Traders await Fed minutes and signs the SeatGeek deal will boost revenue.
Oracle shares rose 1.9% to $156.88 in midday trading Wednesday after Adage Capital Partners disclosed a 19% increase in its stake. Trading volume reached 7.7 million shares. Investors are watching for Federal Reserve minutes at 2 p.m. EST and Oracle’s earnings update in March. Oracle’s data-center expansion and funding plans remain in focus.
Brent crude jumped 3.5% to $69.80 a barrel and WTI rose 3.8% to $64.72 Wednesday as U.S.-Iran tensions and a brief Strait of Hormuz closure stoked supply fears. Iran said it shut parts of the strait for military drills during nuclear talks with the U.S., but did not confirm a full reopening. Joint Iran-Russia naval exercises are set for Thursday. OPEC+ is considering resuming output hikes in April, sources said.
Refinancing applications jumped 7% last week as the average 30-year fixed mortgage rate fell to 6.17%, according to the Mortgage Bankers Association. Total mortgage applications rose 2.8%, while purchase demand declined. Housing stocks traded mixed midday, with Rocket Companies up nearly 1% and Radian down 0.5%. Builders’ sentiment remained weak, with the NAHB index at 36 in February.
Coinbase shares rose 0.9% to $167.50 after ARK Invest disclosed a fresh $6.9 million purchase. Bitcoin held near $67,100. Nevada regulators sued Kalshi and have barred Coinbase from offering event contracts in the state. Traders awaited Federal Reserve meeting minutes and upcoming U.S. inflation data.
XRP fell 1.5% to $1.46 on Wednesday but remained up 8% from a week earlier. Société Générale-FORGE launched its euro-pegged stablecoin on the XRP Ledger, with Ripple providing custody infrastructure. Digital-asset products saw $173 million in outflows last week, though XRP-linked funds drew $33.4 million in inflows. Bitcoin traded near $67,090 and ether at $1,976.
Spot silver jumped nearly 6% to $77.87 an ounce in midday New York trade Wednesday, rebounding after Tuesday’s drop. Silver-linked stocks and ETFs tracked the move, with SLV up about 6%. The dollar gained after strong U.S. data. Traders awaited Federal Reserve minutes due at 2 p.m. ET.
AppLovin shares jumped 7% to $403.00 Wednesday, tracking a tech rally as investors awaited Fed minutes. The stock remains down nearly 40% year-to-date after swings tied to AI competition and short-seller pressure. Last week, AppLovin beat quarterly sales estimates but warned of tougher ad conditions. Traders are watching if the rebound holds.
Bitcoin slipped 0.2% to $67,062 in volatile U.S. trading Wednesday, while ether rose 0.6% to $1,974.90. U.S.-listed spot bitcoin ETFs have seen $8.5 billion in outflows since Oct. 10, Bloomberg reported. Riot Platforms jumped 9.4% after Starboard Value pressed for a faster move into AI data-center deals. The Federal Reserve releases meeting minutes at 2 p.m. ET.
Spot gold jumped 1.7% to $4,957.70 an ounce by 9:15 a.m. ET Wednesday, rebounding after Tuesday’s 2.2% drop as U.S.-Iran nuclear talks showed progress. April gold futures rose 0.5%. Federal Reserve minutes are due at 2 p.m. EST, with PCE inflation data expected Friday.
Nvidia shares rose about 2% after Meta expanded a long-term AI infrastructure partnership, covering millions of Nvidia GPUs and CPUs. Cadence Design Systems jumped 9% on strong quarterly results, while Analog Devices gained after an upbeat forecast. Meta shares edged up 0.2%. Arista Networks fell nearly 2.5% amid concerns over Nvidia’s networking push.
Vertiv shares rose about 1% Wednesday, trading near $246 after executives detailed AI data center product and capacity plans. Management reiterated 2026 margin targets despite warning of near-term inefficiencies as new capacity ramps. Vertiv’s backlog reached $15 billion, up 109% from a year ago. Investors remain focused on the pace of backlog conversion and pricing as competition intensifies.
Palo Alto Networks shares fell 5.7% to $154.22 after the company cut its annual adjusted profit forecast to $3.65–$3.70 per share, citing higher integration costs from acquisitions. Fiscal Q2 revenue rose 15% to $2.594 billion. Acquisition-related costs jumped to $24 million from $10 million a year earlier. The company raised its revenue outlook to as much as $11.31 billion for fiscal 2026.
The Dow rose 0.26% in early trading Wednesday, lifted by gains in tech and chip stocks. Nvidia advanced after announcing a multi-year AI chip deal with Meta. Palo Alto Networks fell after cutting its annual profit forecast. Investors awaited Federal Reserve minutes due at 2 p.m. ET and Friday’s PCE inflation data.
Exxon Mobil shares climbed 2.5% to $149.83 by late morning Wednesday as crude prices rebounded. Brent rose 2.9% to $69.38 a barrel after Russia-Ukraine talks broke down and U.S.-Iran tensions persisted. Exxon said its Guyana gas pipeline is ready but needs more local demand; parts of the Stabroek Block remain under force majeure due to a border dispute. Mobil Oil Australia was fined A$16 million for misleading fuel claims.
JPMorgan shares rose 1.1% to $310.55 after announcing plans to open over 160 new Chase branches in 2026, renovate nearly 600 locations, and hire 1,100 employees. Investors are watching for Federal Reserve minutes due at 2 p.m. EST and JPMorgan’s Feb. 23 company update. Bank of America, Wells Fargo, and Citigroup shares also traded higher late morning.