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

Stock Name	% Change
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

Stock Name	% Change
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%

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