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Wall Street holds steady as early-session gains ease and investors digest rising geopolitical tension. After an initial jump of up to 0.8%, major indices like the S&P 500 and Nasdaq are now flat. The market tone has shifted as President Trump signals a decision on possible military action against Iran is expected within two weeks, this uncertainty initially sent crude oil prices falling over 2%, now stabilizing around $75 per barrel.
Coinbase is up 4% and Reddit gains 2%, driven by positive sentiment in the tech and crypto sectors. In the renewable energy space, SolarEdge rises 3%, rebounding slightly after recent volatility.
Circle Internet continues its rally with a 6% gain, extending its momentum from the recent passage of the GENIUS Act in the Senate. This legislation integrates stablecoins into the U.S. banking system and has turned Circle into a dominant player among stablecoin issuers. Since its early June IPO at $31, CRCL stock has surged more than sixfold.
Gold prices drop 1% amid rising U.S. Treasury yields, now touching 4.43% on 10-year notes. Bitcoin surges past $106,000, benefiting from growing institutional interest and increasing optimism around crypto regulation.
Among today’s standout movers:
GMS Inc. jumps nearly 30% after The Wall Street Journal reported Home Depot joined the bidding war to acquire the building materials distributor, following a $95.20 per share offer from QXO.
Accenture slumps 7.5% despite beating revenue and EPS expectations, as order backlog came in lighter than anticipated.
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