Palantir Hits New Peak, AMD Rallies To 6-Month Highs: What's Driving Markets On Monday?

Investors embraced a risk-on mood Monday, showing optimism that Iran might seek a diplomatic solution to the crisis despite continued hostilities with Israel.

Reports from the Wall Street Journal suggested Iran has indicated a willingness to negotiate if the United States stays out of the conflict with Israel. President Donald Trump, attending the G7 meeting in Canada, affirmed that Iran would be ready to talk.

Yet, conflicting messages also surfaced. An Al-Jazeera story refuted claims that Tehran had sent diplomatic signals, adding that Israeli airstrikes had struck Iran’s state TV headquarters during a live broadcast.

Despite the confusion, risk sentiment held strong across asset classes, with the CBOE Volatility Index (VIX) sinking 8% to around 19, reflecting a drop in investor fears.

Major U.S. stock indexes climbed across the board. The Nasdaq 100 gained 1.5% to 21,950, boosted by large-cap tech names. The Russell 2000 advanced 1.1% to 2,125.

The S&P 500 rose 1% to 6,040, while the Dow Jones Industrial Average added 0.9%, or 372 points, to 42,560.

Technology stocks led the rally. Advanced Micro Devices Inc. AMD surged over 9%, hitting a 6-month high, following a bullish upgrade from Piper Sandler, which raised its price target to $140 after the chipmaker unveiled its new line of AI chips.

Palantir Technologies Inc. PLTR rose 3.7% to $142.53, marking a fresh all-time high. The stock remains the S&P 500's top performer year to date.

In fixed-income and currency markets, Treasury yields ticked slightly higher while the dollar fell. The 30-year U.S. Treasury yield rose 3 basis points to 4.93%, while yields across the curve inched up by 2 basis points.

Oil prices dropped 1.9% to $70 per barrel, with traders balancing truce rumors against continued airstrikes. Gold slipped 1% to $3,400 per ounce as safe-haven demand faded. Bitcoin BTC/USD rose 2.9%, nearing the $108,000 mark, reflecting growing risk appetite in crypto assets.

Monday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF VOO rose 1% to $554.20.
• The SPDR Dow Jones Industrial Average DIA rose 0.9% to $426.56.
• The tech-heavy Invesco QQQ Trust Series QQQ rallied 1.4% to $534.58.
• The iShares Russell 2000 ETF IWM soared 1% to $210.99.
• The Technology Select Sector SPDR Fund XLK outperformed, up 1.8%; the Energy Select Sector SPDR Fund XLE lagged, down 0.8%.

Monday’s Stock Movers

• Betting-related stocks surged after MGM Resorts International's BetMGM joint venture with Entain raised its 2025 net revenue forecast to at least $2.6 billion, above the previous $2.4 billion–$2.5 billion range. MGM Resorts International MGM jumped 8%, Wynn Resorts Ltd. WYNN climbed 6%, and Las Vegas Sands Corp. LVS added 6%.
• Airline stocks rebounded strongly after last week’s steep losses tied to Israel-Iran tensions. American Airlines Group Inc. AAL rose 5.2%, Delta Air Lines Inc. DAL gained 5% and United Airlines Holdings Inc. UAL jumped 6.4%.
• Defense giants retreated as easing fears of U.S. involvement in the conflict weighed on demand for military-related stocks. Lockheed Martin Corp. LMT dropped 4%, Northrop Grumman Corp. NOC fell 3.3% and L3Harris Technologies Inc. LHX slid 2.5%.

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