Finance

The technology sector led the broader market gains as artificial intelligence heavyweights Nvidia and AMD hit all-time highs. Marvell Technology also contributed to the positive momentum, seeing its shares jump following an upward revision to its future revenue guidance during its Investor Day event. The persistent demand for advanced computing hardware continues to solidify the AI trade as a dominant market driver.

Crude oil benchmarks fell by over 2%, pulling back from recent highs to trade near $89 a barrel for West Texas Intermediate. The price decline follows an agreement by the G7 nations to release 100 million barrels of crude and diesel from emergency stockpiles, alongside an expansion in Gulf exports. The drop in energy costs helped alleviate immediate concerns regarding corporate profit margins and consumer inflation.

Shares of Constellation Energy experienced a notable upward move, positioning the company among the top gainers in the S&P 500. The rally was sparked by the announcement of a major long-term deal to supply electricity to Google. The agreement highlights the growing intersection of the utility sector with tech hyperscalers seeking substantial, reliable energy to fuel expanding infrastructure.