Nasdaq 100: Tech Gains Lift Index as Healthcare Lags, CrowdStrike Jumps 4%

Stocks Steady as Tariff Optimism Counters Weak Consumer Sentiment

U.S. equities hovered near flat midday Tuesday as Wall Street looked to extend Monday’s sharp rebound. While easing tariff concerns supported sentiment, weak consumer confidence data and ongoing economic uncertainty capped further upside.

The Conference Board’s March confidence index dropped to 92.9, missing expectations. The expectations gauge plunged to 65.2, marking a 12-year low and signaling possible recessionary risk. Despite this, investors largely discounted the data, with attention turning to upcoming economic releases, including Thursday’s GDP update and Friday’s PCE inflation report—both key to the Fed’s policy path.

Fed officials maintained a cautious tone. Governor Adriana Kugler noted restrictive policy remains in place as inflation progress slows. New York Fed President John Williams said both businesses and consumers are grappling with heightened uncertainty, underlining the delicate balance the central bank faces as it weighs future rate decisions.

Which Sectors Are Holding Up Best?

At the sector level, consumer discretionary led with a 0.43% gain, followed by communication services and technology, which rose 1.17% and 0.32%, respectively. These gains helped offset weakness in defensive sectors, including utilities and healthcare, which fell 1.52% and 1.31%.

Real estate and consumer staples also traded lower, while financials and energy posted modest gains. Industrials and materials were near flat, signaling a mixed risk appetite across equity classes.

What Stocks Are Making Headlines Midday?

CrowdStrike climbed more than 4% after BTIG upgraded the cybersecurity firm to “buy,” citing clearer visibility on its business outlook. Cloudflare rose over 2% following a Bank of America double upgrade, with analysts pointing to AI exposure as a bullish catalyst.

On the downside, KB Home fell more than 4% after missing on earnings and revenue while trimming its 2025 outlook. Crown Castle dropped 4% after abruptly firing its CEO, though the company reaffirmed its full-year guidance.

Elsewhere, Trump Media advanced roughly 7% after announcing a partnership with Crypto.com to roll out ETF products. Mobileye jumped 6% following news of a collaboration with Volkswagen on autonomous driving tech, while Oklo sank 9% on a wider-than-expected loss and warnings of continued financial strain.

What’s the Market Watching Next?

Traders are focused on incoming macro data for clues on Fed policy direction. Thursday’s GDP and Friday’s core PCE report are expected to shape expectations for potential rate cuts. While Monday’s rally offered relief, market sentiment remains tethered to inflation and policy clarity, with tariff uncertainty still lurking.

More Information in our Economic Calendar.