Finance

Enterprise software stocks contributed significantly to market gains alongside chipmakers. Salesforce skyrocketed 22.6% after increasing its annual profit projections and rolling out an expanded artificial intelligence partnership. Concurrently, cybersecurity specialist CrowdStrike advanced more than 20% on the back of historic quarterly net recurring revenue growth.

Investor focus is shifting heavily toward the Federal Reserve's annual economic symposium in Jackson Hole, Wyoming. Market participants are seeking interest rate clues from Chairman Kevin Warsh's upcoming speech following latest data showing core PCE inflation stubbornly steady at 3.3%. The persistence of price pressures highlights an ongoing division within the central bank regarding upcoming monetary decisions.

Crude oil benchmarks moved higher, with Brent futures gaining over $2 per barrel to hover near the $89.70 mark. Commodity trading was primarily influenced by structural volatility in the Strait of Hormuz. Additionally, reports indicating that the U.S. administration lacks interest in revisiting recent diplomatic terms with Iran further stoked supply concerns.