"Dow Jones Soars as Banks Ace Stress Test; Warren Buffett Bets Big on Oil Stocks"
The Dow Jones Industrial Average rose 0.7% as big banks, including JPMorgan Chase, Citigroup, and Bank of America, passed the Federal Reserve's stress test with capital buffers above the required minimum. Warren Buffett's Berkshire Hathaway purchased 2.1 million shares of Occidental Petroleum, while Overstock.com surged 15% after acquiring Bed Bath & Beyond's intellectual property. Other notable movements include Rite Aid's rise after earnings, Paychex meeting resistance at the 200-day moving average, and Freyr Battery receiving an upgrade from Morgan Stanley. Joby Aviation gained 12% following an equity investment, and Virgin Galactic fell after its first commercial space flight. Tesla rose ahead of its expected announcement of record Q2 deliveries, and Medpace and Chipotle Mexican Grill are approaching buy points. Nike will report earnings after market close.