Finance

In his debut as Federal Reserve Chairman, Kevin Warsh led the committee in maintaining interest rates at 3.5% to 3.75% while signaling potential hikes later in 2026. Warsh implemented a major shift in communication by eliminating traditional forward guidance and abstaining from submitting his own interest rate forecast.

Oil prices showed steadying signs as the U.S.-Iran agreement includes provisions to reopen the Strait of Hormuz, a critical global oil transit point. Brent crude was trading near $79.55 per barrel, down from recent peaks, as traders anticipated the restoration of global crude flows from the Persian Gulf.

Technology stocks, particularly chipmakers like Intel and Micron, led market gains as investors refocused on artificial intelligence and hardware growth. Despite broader market volatility earlier in the week, strong earnings outlooks and the geopolitical thaw in the Middle East have revitalized demand for high-growth tech assets.