Tech Stocks Rebound, Crude Rallies Above $64 On Iran Tensions: What's Moving Markets Wednesday?
Tech stocks recovered on Wednesday, led by a rally in battered software names, as the Nasdaq 100 jumped 1.4% past 25,000, outpacing the S&P 500's 1% gain and the Dow's 0.7% advance.
Cadence Design Systems Inc. (NASDAQ:CDNS) led the tech advance, jumping nearly 10% after the chip-design software provider topped fourth-quarter revenue estimates and projected strong growth for 2026, supported by share buybacks and AI-driven demand.
The iShares Expanded Tech-Software Sector ETF (NYSE:IGV) climbed 1.8%, while AI darling Palantir Technologies Inc. (NASDAQ:PLTR) surged 4.5%.
Not all tech stocks experienced an upswing. Cybersecurity firm Palo Alto Networks Inc. (NASDAQ:PANW) fell 6% after trimming its annual profit outlook, even though the company delivered quarterly results that beat expectations. Shares slid to levels last seen on April 8, 2025, during the peak of the Trump tariff shock.
Commodity markets moved broadly higher amid rising Middle East tensions. According to Axios, a potential joint U.S.-Israeli military operation in Iran could begin "very soon" and may evolve into a weeks-long full-scale conflict, sources said.
Oil prices jumped 3.6% — the strongest session since October 2025 — climbing above $64 per barrel. Spot gold surged past $5,000 per ounce, while silver rallied above $78 per ounce.
Commodity-linked industries and defense contractors outperformed. The VanEck Gold Miners ETF (NYSE:GDX), the VanEck Oil Services ETF (NYSE:OIH) and the SPDR S&P Aerospace & Defense ETF (NYSE:XAR) gained 2.6%, 2.4% and 1.9%, respectively.
In crypto markets, Bitcoin (CRYPTO:BTC) slipped 0.6% to $67,000.
Wednesday’s Performance In Major US Indices, ETFs
| Major Indices | Price | 1-day %change |
| Nasdaq 100 | 25,042.21 | 1.4% |
| Russell 2000 | 2,673.59 | 1.0% |
| S&P 500 | 6,908.25 | 1.0% |
| Dow Jones | 49,858.09 | 0.7% |
- The Vanguard S&P 500 ETF (NYSE:VOO) climbed 0.84% to $633.24.
- The Invesco QQQ Trust (NASDAQ:QQQ) advanced 1.33% to $609.31
- The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) gained 0.59% to $498.76.
- The iShares Russell 2000 ETF (NYSE:IWM) rose 1.02% to $265.73.
- Technology stocks led sector gains, with the Technology Select Sector SPDR Fund (NYSE:XLK) rising 1.8% to $141.96. Utilities lagged the most, down 1.3% to $45.78.
Russell 1000's Top 5 Gainers
| Liberty Global Ltd. (NASDAQ:LBTYA) | +17.97% |
| The Wendy's Co. (NASDAQ:WEN) | +16.79% |
| Liberty Global Ltd. (NASDAQ:LBTYK) | +16.14% |
| Global Payments Inc. (NYSE:GPN) | +15.29% |
| Madison Square Garden Sports Corp. (NYSE:MSGS) | +13.72% |
Russell 1000's Top 5 Losers
| HF Sinclair Corp. (NYSE:DINO) | -11.17% |
| Halozyme Therapeutics Inc. (NASDAQ:HALO) | -9.45% |
| Allegro MicroSystems Inc. (NASDAQ:ALGM) | -7.16% |
| Palo Alto Networks Inc. (NASDAQ:PANW) | -5.47% |
| MKS Instruments Inc. (NASDAQ:MKSI) | -5.12% |
Image: Shutterstock
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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The Shopify Stock Rally Isn't Done: Chart of the Week -- Barrons.com
By Doug Busch Shopify is no longer a pandemic-era growth story that simply failed to slow down. It is compounding at a pace few software platforms its size still manage. In the second quarter of 2026, sales on its platform rose 32%. That was the fifth straight quarter of growth exceeding 30%. Merchants are also using more of Shopify's own tools, from payments to Shop Pay, and new channels like AI shopping agents are starting to increase demand. The simple bull case is that the stock already commands a huge share of independent online commerce, and that position should become more valuable as more buying moves through its checkout. A rule of market mechanics is that the vast majority of an individual security's gain is driven by its underlying sector. Within technology, software has staged a robust recovery, joining semiconductors to power the broader sector higher. The iShares Expanded Tech-Software Sector ETF has maintained an upward trajectory since its mid-April lows, though the advance from $74 to $112 has been choppy as bulls repeatedly stepped in to defend when necessary. Breadth across large-cap software has expanded significantly, with 24 constituents surging over 20% over the past three months. During that same three-month window, Shopify generated outstanding relative strength, advancing 36%, more than doubling the IGV's 17% gain over the same period. Expect the stock's outperformance to persist as software momentum broadens. Let's examine the daily and monthly charts to outline the technical drivers behind this thesis. Looking at the daily chart, the ratio chart against the IGV shows persistent outperformance extending back to mid-May. The stock is riding an eight-session winning streak, during which price action cleared a double-bottom-with-handle pivot at $151.39. Within this broader base, the stock recorded a bullish golden cross in late August and successfully filled its Sept. 10 price gap, tracing back to its Aug. 4 session, the day before a powerful earnings reaction sent the stock surging 17% hi
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