Finance

The artificial intelligence trade continues to firmly steer equity markets, with industry heavyweights Nvidia and AMD pushing toward fresh record levels. Further enthusiasm was driven by Marvell Technology following upward revisions to its future revenue projections during an investor conference.

Fixed-income volatility continued to dominate market conversations as the benchmark 10-year U.S. Treasury yield pulled back from near its highest levels in over two decades. Strong demand in short-term government debt auctions helped alleviate immediate rate pressures, providing a welcome lift to equity valuations.

Oil prices experienced a notable pullback as a coordinated commitment by G-7 countries to tap into crude and diesel reserves helped suppress earlier supply concerns. Crude fell approximately 2%, trading down toward the lower $90-per-barrel range, helping soften near-term inflationary expectations.