Dow Up, Rackspace Technologies Up

All three major indices rose today.

The NASDAQ rose 175.25 points.

The DOW rose 129.47 points.

The S&P rose 38.09 points.

The Dow Jones Industrial Average closed higher amid rebounding sentiment as investors rotated back into tech and cyclicals following recent volatility, with positive economic data and easing concerns over AI disruption supporting gains. The blue-chip index added 129.47 points, or 0.3%, to finish at 49,662.66. This marked a solid advance in a session that helped recover from prior pressures, contributing to positive closes across the major benchmarks.

All this as Rackspace Technology shares rose 0.95 points to end the day at $1.37 per share. The hybrid multicloud and AI solutions provider stock surged dramatically following the announcement of a strategic partnership with Palantir Technologies to accelerate AI and data platform deployments for enterprises. The partnership focuses on helping customers deploy and operate Palantir's Foundry and Artificial Intelligence Platform in production environments with governed managed operations, including data migration and hosting support.

The stock opened at $1.00 and traded in a highly volatile range during the session, hitting a high of $1.71 and a low of $0.95, with trading volume exploding to approximately 526,534,060 shares--far exceeding typical daily averages. The gain represented a 226.19% increase from the previous close, driven by enthusiasm over the collaboration's potential to drive revenue growth in cloud and AI services amid increasing enterprise demand for integrated AI solutions.

The outsized performance made Rackspace Technology one of the market's top gainers on a day when broader indices advanced due to sector rebounds and stabilizing sentiment. Investors reacted strongly to the partnership as a key catalyst for the company's turnaround, positioning it for expanded market share in multicloud and AI-driven transformations.