Stocks Continue Lower as Yields Resume Climb

All three major indexes are sporting midday losses, as chip darling Nvidia (NVDA) carries a modest post-earnings pullback, Treasury yields pop, and crude prices resume their surge. West Texas Intermediate (WTI) traded as much as 3% higher earlier in the session and is now back above $100 per barrel.

The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are both suffering notable losses, while the Dow Jones Industrial Average (DJI) is in the red as well. Investors are monitoring U.S.-Iran tensions after the latter region's supreme leader issued a directive that would keep enriched uranium in the country.

Continue reading for more on today's market, including:

• 3 quantum stocks making major moves.
• Blue-chip retailer cooling off after guidance fumble.
• Plus, another surging quantum name; some of NYSE's best and worst performers this afternoon.

Joining the quantum computing surge is IBM Corp (NASDAQ:IBM), last seen up 8% to trade at $243. The chip maker is also benefiting from the government's $2 billion-dollar grant for nine tech organizations. IBM remains down 18% in 2026, but is seeing major attention in the options pits in response. So far 101,000 calls have been exchanged, seven times the average pace, with the weekly 5/22 240- and 245-strike calls seeing the most action.

Pacing the gainers on the New York Stock Exchange (NYSE) is Ralph Lauren Corp (NYSE:RL), up 11.4% at $366.74 after posting a fiscal fourth-quarter earnings and revenue beat. Sales for Q4 also climbed, with Needham hiking its price target to $405 in response. RL is headed for its best day since April 9, 2025, overtaking the year-to-date breakeven mark, with the 126-day moving average stepping up with support.

Farming equipment maker Deere & Co (NYSE:DE) is near the bottom of the NYSE, last seen down 7.3% to trade at $519, sliding despite sharing a fiscal Q2 beat. Investors are miffed by the company's maintained outlook and a drop in profit for the recent quarter. DE is trading below $520 for the first time since late January but is still clinging to its 11.3% year-to-date level.