Nasdaq Up Triple Digits as Investors Welcome Much-Needed Tech Rally

Stocks are a mixed bag to start the week. The Nasdaq Composite (IXIC) is up 168 points at last look, as the AI and chip trade stabilizes. The S&P 500 is modestly higher,  while the Dow Jones Industrial Average (DJI) is off by 108 points, with Apple (AAPL) a notable laggard as the red-hot tech titan is hit with profit taking.

Investors are closely monitoring oil prices today, with front-month crude last seen hovering under $83/barrel. Elsewhere, Middle East escalation remains in focus after a violent weekend, though reports of ongoing negotiation are offering some optimism.

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

• Dominos earnings are first through the door this week.
• Data center stock back up on the mat.
• Trade a loaded earnings calendar with us.
• Plus, cruise bears move in; LITE shines after upgrade; and Boeing stock stalled. 

Royal Caribbean Cruises Ltd (NYSE:RCL) stock is seeing an uptick in options activity today. Over 7,500 puts have changed hands midday, volume that's five times the average intraday amount and almost seven times the number of calls exchanged. Most of this activity surrounds the September 290 put. RCL is down 1.3% to trade at $283.27, testing its 2026 breakeven level, an area that roughly coincides with its 80-day moving average.

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Lumentum Holdings (NASDAQ:LITE) is pacing the tech rally today, up 8.1% to trade at $792.66. Barclays upgraded the optronics stock to "overweight" from "equal-weight" while keeping its $1,000 price target. The analyst in coverage cited strong underlying fundamentals and an attractive risk/reward profile. LITE boasts a 117% year-to-date gain but has shed 27% off its May 12 all-time high of $1,085.68. 

Boeing Co (NYSE:BA) stock is near the bottom of the Dow and New York Stock Exchange (NYSE) today, last seen down 2.3% to trade at $209.10. The space stock pivoted into the red after CEO Kelly Ortberg announced there'd be no new commercial aircraft program for at least two years, with Boeing prioritizing its balance sheet. Separately, the aerospace name expects FAA certification of its 737 Max 7, 10 soon. BA stock is battling its year-to-date breakeven level, and is now 8% lower in the last 12 months.