Stocks Open Higher as Tech Drives Gains, Bitcoin Jumps and Oil Slips

U.S. stocks opened higher at the open Tuesday, with the Dow Jones Industrial Average rising 140.42 points (0.30%) to 47,429.8, the Nasdaq Composite up 102.97 points (0.44%) to 23,378.9, and the S&P 500 gaining 20.47 points (0.30%) to 6,833.10 as trading began at 9:30 a.m. ET. The Russell 2000 added 1.32 points (0.54%) to 246.94, reflecting broad early strength across equities as investors rotated back into tech leadership and growth-sensitive names.

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Commodities and cross-asset signals were more mixed. Crude oil slipped to $59.06, down 0.26 (-0.44%), while gold fell to $4,247.50, down 27.30 (-0.64%), underscoring softer demand for haven assets. The CBOE Volatility Index declined to 16.67, down 0.57 (-3.31%), pointing to continued subdued equity volatility despite heavy event risk in the AI and tech complex. Meanwhile, Bitcoin surged to $88,240.55, up 1,930.13 (+2.24%), extending a broad crypto rebound as digital-asset trading volumes picked up into the morning session.

The early tone of the session was shaped by a breakout quarter from MongoDB, which delivered one of the most forceful beat-and-raise performances of the current earnings season. The company’s stock surged roughly 25% in pre-market trading after what analysts described as a reset higher in both profitability and growth. Revenue for the fiscal third quarter rose 19% to $628.3 million, surpassing consensus by $33–35 million, while adjusted earnings per share of $1.32 crushed expectations in the high-$0.70s to low-$0.80s range, according to company results included in the day’s research notes.

Atlas, MongoDB’s cloud database platform and the engine of its AI story, accelerated to 30% revenue growth and now accounts for 75% of total revenue. CEO CJ Desai framed the quarter as “an inflection point driven by major shifts across cloud, data and AI” and argued that MongoDB can become the “generational modern data platform” for the current era. Analysts raced to catch up: RBC lifted its price target to $450, Citizens to $475, and Wedbush to $440, keeping the stock on its Ives AI 30 list and “Best Ideas” list.

MongoDB’s gains spilled over into other AI infrastructure names, reviving a theme that had shown signs of fatigue in recent weeks. Investors are watching whether this renewed enthusiasm can broaden beyond software and into the megacap complex once the full market opens and liquidity builds.

Macro policy developments also entered the morning narrative. The Congressional Budget Office expects the recently passed One Big Beautiful Bill to add 0.9% to GDP growth in 2026, with its most powerful provision allowing companies to immediately deduct capital expenditures—including equipment and R&D—starting January 1, 2026. Apollo Global Management chief economist Torsten Slok characterized the provision as a major tailwind for next year’s economic outlook.

The competitive backdrop in artificial intelligence tightened further after The Financial Times reported that OpenAI CEO Sam Altman declared a “code red” internally, urging the company to refocus resources on improving ChatGPT. In the memo, Altman warned that “we are at a critical time for ChatGPT” and said the firm would delay advertising products, AI agents, and its Pulse personal-update product to re-prioritize the flagship system. The report highlighted rising pressure from Google’s Gemini 3—said to have leapfrogged GPT-5 on industry benchmarks—and Anthropic’s Opus 4.5, which also outperformed GPT-5 in key tests.

Oracle is expected to report earnings next week, but with earnings season winding down, investors now turn to the broader macro calendar and the potential for fiscal expansion in 2026 to reshape expectations for growth, inflation, and corporate profitability.