Nasdaq Rises 1.1% as Iran Talks Cut Oil and SpaceX IPO Buzz Lifts Goldman

12 articles · Updated · The Motley Fool · May 20

U.S. stocks climbed Wednesday afternoon, with the Nasdaq up 1.1%, the Dow 0.96% and the S&P 500 0.76%, after two sharp intraday bursts left indexes near session highs.
Oil drove much of the move: Trump said Iran negotiations were in their "final stages," pushing crude back below $100 a barrel and easing inflation and Fed-pressure concerns.
Goldman Sachs jumped nearly 5% after reports it won the lead underwriting role on SpaceX's IPO, a deal that could raise as much as $75 billion at a valuation near $2 trillion.
Chip shares added momentum, with Nvidia up about 2% ahead of earnings and AMD surging 7.4% as failed Samsung labor talks raised worries about memory-supply disruptions.
The rally largely reversed the prior day's selloff, but the market's swing on Iran headlines underscored how quickly sentiment can change if talks falter again.

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