Live: Dow, Nasdaq Soar as Trump Pressures Israel to Hold Iran Ceasefire, Oil Prices Slide

Oil prices plunged on Tuesday, shedding nearly 6%, as President Trump scrambled to keep a shaky truce between Israel and Iran from falling apart.

West Texas Intermediate (WTI) dropped close to $65 per barrel, while Brent crude slipped to just above $67 — bringing both benchmarks back to levels seen before tensions erupted last week.

The sharp decline came after Trump posted on social media that Israeli jets would not carry out planned strikes on Iran, stating:
“ISRAEL is not going to attack Iran. All planes will turn around and head home, while doing a friendly ‘Plane Wave’ to Iran. Nobody will be hurt, the Ceasefire is in effect!"

Trump's comments followed accusations from Israel that Iran had violated the agreement, prompting him to publicly urge Israeli forces to stand down.

Markets appear to be responding to renewed hopes that escalation in the Middle East can be avoided — for now.

Crypto-related stocks jumped Tuesday after reports indicated two Republican senators are close to introducing a major bill to regulate digital currencies in the U.S.

MicroStrategy (MSTR), known for holding the largest corporate stash of Bitcoin, gained 3.5%. Trading platforms Coinbase (COIN) and Robinhood (HOOD) surged 11.9% and 6.9%, fueled by optimism that new legislation could offer the industry a clearer path forward.

Bitcoin mining companies also saw strong momentum, with Riot Platforms (RIOT) up 6.7% and Marathon Digital (MARA) rising 4.6%.

The expected bill is seen as a step toward long-needed regulatory clarity, which could unlock more institutional investment and reduce uncertainty that's kept parts of the market sidelined.

Uber's stock jumped 8% on Tuesday after launching its latest driverless ride program in Atlanta, expanding its partnership with Waymo, Alphabet's autonomous vehicle division.

The new service gives Atlanta riders access to Waymo’s self-driving cars through the Uber app — marking another milestone in the companies' expanding collaboration, which already includes Phoenix and Austin. Waymo is also setting its sights on New York City, where it recently filed for permission to begin test runs.

“Waymo teaming up with Uber in NYC would make a lot of strategic sense,” noted Jefferies analyst John Colantuoni, commenting on the potential for growth in high-density urban areas.

The news sent Uber shares climbing, while Alphabet stock also edged up. Tesla, meanwhile, slipped into the red after videos of questionable robotaxi behavior drew regulatory interest — a contrast that spotlighted investor sentiment shifting toward safer, scalable autonomous partnerships.

Uber also made waves last week by introducing a new AI data licensing platform, offering access to its extensive ride and delivery datasets for companies training large AI models. Some analysts raised eyebrows at the move, but others saw strong potential in Uber monetizing its data.

Tech giants saw solid gains on Tuesday, with Amazon and Nvidia leading the pack among the “Magnificent Seven” stocks.

1. Amazon (AMZN) jumped 2.3%
2. Nvidia (NVDA) climbed 1.8%
3. Google (GOOG) and Meta (META) rose 1.8% and 1.3% respectively
4. Microsoft (MSFT) edged up nearly 1%
5. Apple (AAPL) was mostly unchanged

The tech-heavy XLK ETF gained 1.6%, outperforming the S&P 500, which rose about 1%. Over the past 10 sessions, the tech sector is up 3%, compared to the broader market’s 1.3% increase.

Analysts at Bank of America said tech stocks attracted their biggest inflows since June 2024, signaling renewed investor confidence in the sector.

Meanwhile, Tesla (TSLA) slipped 1.6% as scrutiny over its robotaxi launch continues, with regulators reviewing safety concerns raised in recent videos shared online.

Federal Reserve Chair Jerome Powell made one thing clear on Tuesday: the Fed won’t be distracted by political noise, even if it comes from President Trump.

Speaking to lawmakers on Capitol Hill, Powell pushed back against growing pressure from Washington, especially recent comments from Trump accusing the Fed of being too slow to cut interest rates.

“We’re focused on one thing — making sure the economy works for the American people,” Powell told Congress. “Everything else is a distraction.”

Though he didn’t mention Trump by name, Powell said political criticism doesn’t influence the Fed’s decisions. “We do what we believe is right, and we deal with the outcome,” he said. “That’s the job.”

When asked whether Americans should be worried about political pressure on the central bank, Powell stayed firm: “The decisions we make really matter in people’s lives. That’s what we stay focused on — not politics.”

Circle (CRCL) shares slipped up to 7% on Tuesday, cooling off after a strong rally that saw the stock more than double in recent days. The pullback ends a three-day winning streak powered by excitement over new U.S. legislation supporting stablecoins.

But as optimism around regulation fades, investor attention is shifting to what comes next — a wave of fresh competition. With federal rules on the way for digital tokens like Circle’s USDC, the door is opening for new players to enter the space.

While the recent gains were driven by hopes of long-term growth in stablecoin use, the road ahead may be tougher as rivals step in under the same regulatory umbrella.