Finance

Chipmakers spearheaded the market's recovery, with the Philadelphia Semiconductor Index jumping over 5% following reports of major AI chip orders and index inclusion news. Companies like Intel and Micron saw double-digit and near-double-digit gains, respectively, as bargain hunting stabilized the sector after a volatile period.

Government bond yields held steady as investors analyzed stronger-than-expected employment data and its potential impact on future Federal Reserve policy. Market participants are increasingly pricing in the possibility of a rate hike later this year, with the 10-year Treasury note yield hovering near a two-week high of approximately 4.54%.

Crude oil prices eased following reports of a potential pause in hostilities between Israel and Iran, providing relief to global markets. This cooling of geopolitical tensions reduced the immediate risk of an energy shock, though traders remain cautious as inflation data looms later in the week.