Red-hot Arm Holdings soars to another all-time high. What’s fueling the move this time? The S&P 500 and Nasdaq reached all-time highs, influenced by news of potential U.S.-Iran de-escalation and strong tech stock performance. Arm Holdings experienced a significant surge, driven by excitement around AI systems, analyst upgrades, and its licensing agreements with tech giants like Amazon. Upcoming earnings reports from Costco, American Eagle, Gap, Dell, Okta, and SentinelOne are expected to provide insights into consumer spending and AI server demand.

• S&P 500 and Nasdaq hit all-time highs, boosted by U.S.-Iran de-escalation news.
• Arm Holdings shares soared over 13.5%, extending its significant year-to-date gains.
• Arm’s rally is fueled by excitement over AI demand, analyst price target increases, and its licensing deals, particularly with Amazon’s Graviton CPUs.
• Microsoft gained over 3.5% ahead of its Build developer conference and new coding model announcement.
• Cybersecurity stocks CrowdStrike and Palo Alto Networks recovered from previous declines.
• Upcoming earnings reports include Costco, American Eagle, Gap, Dell, Okta, and SentinelOne.
• Economic data includes the Census Bureau’s Monthly wholesale trade survey.