Tech Stocks Rebound, Crude Rallies Above $64 On Iran Tensions - Allegro Microsystems (NASDAQ:ALGM)
Benzinga·2026-02-18 18:06

Group 1: Tech Sector Performance - Tech stocks experienced a recovery, with the Nasdaq 100 increasing by 1.4% to surpass 25,000, outperforming the S&P 500's 1% gain and the Dow's 0.7% advance [1] - Cadence Design Systems Inc. saw a significant rise of nearly 10% after exceeding fourth-quarter revenue estimates and projecting strong growth for 2026, driven by share buybacks and AI demand [1] Group 2: Commodity Market Trends - Commodity markets rose broadly due to escalating tensions in the Middle East, with reports of a potential U.S.-Israeli military operation in Iran [2] - Oil prices surged by 3.6%, marking the strongest session since October 2025, and climbed above $64 per barrel [2] - Spot gold prices exceeded $5,000 per ounce, while silver prices rose above $78 per ounce [2] Group 3: Cryptocurrency Market - In the cryptocurrency market, Bitcoin experienced a slight decline of 0.6%, trading at $67,000 [2]

Allegro MicroSystems-Tech Stocks Rebound, Crude Rallies Above $64 On Iran Tensions - Allegro Microsystems (NASDAQ:ALGM) - Reportify