---
title: "Nasdaq Climbs 0.84% as SOFI Jumps 8.00%, S&P 500 at 7,563.63 Points"
canonical_url: https://www.stockexpertai.com/journal/2026-05-29/nasdaq-climbs-084-as-sofi-jumps-800-sp-500-at-756363-points-5
last_updated: 2026-05-29T18:17:41.553Z
section: "Market Pulse"
author: "Reese Nakamura"
publisher: Stock Expert AI
tickers: SOFI, UBER, GD, ECC, BTC, DHER
content_type: journal-article
---

# Nasdaq Climbs 0.84% as SOFI Jumps 8.00%, S&P 500 at 7,563.63 Points

## The Take
- Stay diversified and monitor geopolitical risks as tech leads market gains, but some sectors face headwinds.

_Tech stocks lead gains while investors eye Uber's increased stake in Delivery Hero and potential US ban of Mercedes-Benz._

The global macro picture is shifting. The Nasdaq 100 Index led the charge, gaining 0.84% as tech stocks continued their upward trajectory. The S&P 500 followed, closing at 7,563.63 points, a 0.58% increase, while the Dow Jones Industrial Average saw a more modest gain of 0.05%, closing at 50,668.97 points. Small caps, represented by the IWM ETF, also participated in the rally, rising 0.57% to $292.03. The VIX, a measure of market volatility, decreased by 3.38% to 15.74 points, suggesting a decrease in investor fear.

SOFI stood out with an impressive 8.00% surge to $18.33, driven by investor enthusiasm for the company's new stablecoin. In other corporate news, Uber's increased stake in Delivery Hero to 25% is fueling speculation about a potential takeover, according to Jefferies analysts. Meanwhile, concerns are growing about a potential U.S. ban on new Mercedes-Benz vehicles due to the company's ties to a Chinese state-owned automaker, BAIC.

Commodities saw mixed performance. Gold edged up 0.30% to $4546.20/oz, while silver saw a slight decline of 0.02% to $75.90/oz. Oil (WTI) dipped by 1.01% to $88.00/barrel, and copper decreased by 0.28% to $6.41/lb. Bitcoin continued its upward trend, rising 1.09% to $73672.77, while Ethereum increased by 1.98% to $2013.86.

Eagle Point Credit Company (ECC) remains a popular choice for income investors, offering an 18% yield via unrated CLO equity tranches. The dollar index (DXY) decreased slightly to 98.98 points. Market participants are closely monitoring geopolitical developments and their potential impact on global markets. Macro regimes don't change overnight—but when they do, it matters.

## Related Tickers
- [SOFI](https://www.stockexpertai.com/stock/sofi)
- [UBER](https://www.stockexpertai.com/stock/uber)
- [GD](https://www.stockexpertai.com/stock/gd)
- [ECC](https://www.stockexpertai.com/stock/ecc)
- [BTC](https://www.stockexpertai.com/stock/btc)
- [DHER](https://www.stockexpertai.com/stock/dher)

## Frequently Asked Questions

### Why did SOFI stock jump today?
SOFI's stock price surged 8.00% due to investor enthusiasm surrounding the company's new stablecoin. This positive news fueled buying interest and contributed to the significant price increase, reflecting confidence in SOFI's future prospects.

### What's the impact of Uber's Delivery Hero stake?
Uber's increased stake in Delivery Hero has sparked speculation about a potential takeover, according to analysts. This development could significantly impact both companies and the food delivery market, leading to increased scrutiny and potential strategic shifts.

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_AI-generated under human editorial supervision. Educational research, not financial advice._