Market Monitor News May 15 ( eToro, Oklo UP - Grail, American Eagle Outfitters DOWN)

Wall Street Takes a Breather: Tech Rallies, eToro Soars, and Boeing Lands Mega-Deal

After a sharp rally of over 22% since April, the U.S. stock market took a breather on Wednesday. The S&P 500 closed nearly flat (-0.1%), the Dow Jones slipped slightly (-0.2%), while the Nasdaq bucked the trend and gained +0.7%, powered by strength in technology stocks.

Craig Johnson, analyst at Piper Sandler, attributes the recent rally to investor FOMO (fear of missing out):

“Stock prices may be temporarily inflated, but any mild pullback should be seen as a buying opportunity, especially in resilient sectors.”

The rally has been fueled by easing U.S.-China trade tensions and better-than-expected corporate earnings. Although, analysts remain cautious, noting that geopolitical unpredictability, particularly surrounding Donald Trump, still poses risks.

eToro: A Dazzling Nasdaq Debut

The standout of the day was eToro (ETOR | +29.0%), the Israeli trading platform known for its crypto trading services. On its first day on Nasdaq, the company surged from its IPO price of $52 to close at $67.

eToro raised $620 million, double its initial target, as investor appetite for high-growth fintech remained robust.

Nvidia and AMD: Saudi AI Boom Lifts Chip Stocks

Nvidia (NVDA | +4.16%) rallied for a second consecutive day after announcing a massive AI infrastructure project in partnership with Humain, an AI company backed by the Saudi sovereign wealth fund. The company had already jumped 5.6% the previous session.

Advanced Micro Devices (AMD | +4.68%) also gained as it will supply chips for the same Saudi-backed initiative. The surge in AI-related investments has rekindled optimism around semiconductor stocks, which broadly closed higher.

Boeing: Record Aircraft Order from Qatar Airways

In the wake of President Trump's ongoing Middle East trip, Boeing (BA | +0.64%) announced its largest order ever: at least 160 aircraft from Qatar Airways, potentially worth up to $96 billion.

The deal is seen as a major win for the U.S. aerospace giant, especially after a turbulent year marked by leadership changes, regulatory investigations, and safety issues.

President Trump touted the order as a job-creating success for the U.S. economy.

Mixed Performances Across Other Notable Stocks

Palantir Technologies (PLTR | +1.62%) extended its rally, closing above a $300 billion market cap for the first time.

First Solar (FSLR | +0.72%) posted a sixth consecutive gain after a Republican tax proposal proved less damaging than feared.

Oklo (OKLO | +15.55%), a clean energy firm, beat earnings expectations with a narrower-than-expected loss.

Cisco Systems (CSCO | -0.79%) rose in after-hours trading (+2.66%) on better-than-expected quarterly earnings.

On the downside:

American Eagle Outfitters (AEO | -6.45%) declined after reporting a quarterly loss and withdrawing its full-year guidance.

Grail (GRAL | -23.32%) dropped sharply due to underwhelming revenue figures.

Oil Prices Retreat on Iran Deal Hopes

Oil prices declined as markets reacted to two main developments:

• Hopes of a U.S.-Iran nuclear deal, which could ease sanctions and boost global supply.

• Surprisingly high U.S. crude inventories, which rose by 3.5 million barrels last week to 442 million.

• Brent crude: down 2.2% to $64.67

• WTI crude: down 2.2% to $51.75

• U.S. oil (Wednesday): down 0.8% to $63.15 per barrel

Economic Snapshot: Mortgage Activity Picks Up

On the economic front, U.S. mortgage applications rose 1.1% last week, suggesting some resilience in housing demand despite elevated interest rates. The market index climbed from 248.4 to 251.2.

Meanwhile, the EUR/USD slipped slightly, ending at 1.1172, compared to 1.1185 on Tuesday.

Conclusion: Momentum Meets Caution

While recent gains have lifted investor spirits, caution is beginning to return. Tech stocks are lifted by AI optimism, and IPOs like eToro’s show the market still has pockets of exuberance.

But with geopolitical uncertainty and inflation concerns still looming, traders are watching closely for the next move.

• Next to read: Market Monitor Trends & Breadth May 15