Nasdaq 100 rallies as oil slides and yields retreat
U.S. stocks rebounded sharply as crude oil fell from its geopolitical spike and Treasury yields eased below 5%. The Nasdaq 100 led gains, while the Dow lagged and the VIX cooled.
S. stocks rebounded sharply Thursday, erasing two sessions of losses as crude oil retreated from its geopolitical spike and Treasury yields eased back below 5%, one day after the Federal Reserve delivered its first interest rate hike since 2023. 04. 56.
4% and a labor market at effectively full employment. 04% level hit earlier this week, which had marked a 19-year high. 30%. 69, unwinding the fear premium built up around the Fed decision and the Middle East supply scare.
86. 1 estimate. 1%. 7%.
7%. 0%. 2% as semiconductor names extended a rebound from Monday’s AI-safety-driven selloff. 4% gain.
1%. 8%, respectively. 8%, both riding the same power-generation theme that dominated the tape. 6%.
The laggard was the SPDR S&P Oil & Gas Exploration & Production ETF (NYSE: XOP ), which ended the morning essentially flat. The chip complex did the heavy lifting. Intel Corp. 7% on more than 77 million shares, nearly twice its normal pace, while Advanced Micro Devices Inc.
9%, Micron Technology Inc. 4% and Oracle Corp. 6%. Super Micro Computer Inc.
8% and Hewlett Packard Enterprise Co. 0%. Defense Names are the Session’s Dead Weight RTX Corp. 3%, Lockheed Martin Corp.
9%, General Dynamics Corp. 5%, a clean unwind of the Middle East risk premium. On the earnings front, Lennar Corp. 37 billion expected.
5%. S. 9% gain. The Day’s Big Winners Generac Holdings Inc.
4 billion across 2027 and 2028 and full warrant vesting at $8 billion of aggregate payments. Vicor Corp. 3% after announcing Wednesday it licensed its Vertical Power Delivery patent portfolio to an unnamed leading AI OEM on a non-exclusive basis, layering a royalty stream on top of product sales. The news follows a raised fiscal 2026 revenue outlook of more than $600 million and a 145% jump in backlog.
Tempus AI Inc. 7% following a Morgan Stanley note that quantified the company’s reimbursement tailwind, with management pointing to roughly $80 million to $100 million of incremental revenue next year from xT pricing and $250 million to $300 million annually from xF approval and pricing. Nuclear-adjacent power names Oklo Inc. (NYSE: OKLO ) and X-Energy Inc.
5%, respectively, with no company-specific news in the tape. Both appear to be trading in sympathy with the broader data-center power complex after the House passed the Ratepayer Protection Act 417-3 on Wednesday, shifting generation and transmission costs onto large data centers. X-Energy’s most recent release, a Sept. 15 UK partnership with Centrica, was met with a nearly 4% decline that day.
Other notable gainers included IonQ Inc. 9%, SiTime Corp. 7%, and Moderna Inc. 2%.
On the Downside AutoNation Inc. 9% after CFO Thomas Szlosek flagged third-quarter headwinds at the same Morgan Stanley conference, citing softer service growth, model-year changeover pressure, affordability and lower EV penetration following the expiration of federal incentives. Further up the auto value chain, General Motors Co. 6%.
Reddit Inc. 9%, extending losses after a Sept. 15 Wells Fargo note lowered confidence that the company can renegotiate its AI content-licensing agreement with Google on favorable terms. Third-party data cited in recent sell-side work showed Google search traffic to Reddit down roughly 10% year-over-year so far in September, after a 7% decline in August.
Karman Holdings Inc. 8% consistent with the broader unwind in aerospace and defense as the Middle East risk premium deflated. Elsewhere, T-Mobile US Inc. 1% to lead S&P 100 decliners, weighing on the communications sector alongside Salesforce and Verizon.
Thursday’s Russell 1000 Top Gainers Name % change Generac Holdings Inc. 27% Tempus AI, Inc. 73% Oklo Inc. 33% X-Energy, Inc.
52% Thursday’s Russell 1000 Top Losers Name % change MasTec, Inc.. 58% ATI Inc. 42% AutoNation, Inc. 90% Reddit, Inc.
86% Karman Holdings Inc. 83% Image: Shutterstock