Finance

Shares of Dell Technologies soared nearly 33% in a single session, achieving its best trading day ever after exceeding financial estimates and raising full-year guidance. This growth was primarily fueled by robust demand for AI-optimized servers, which also supported double-digit gains for software firms like Oracle and ServiceNow.

Benchmark interest rates retreated slightly at the end of the month, with the 10-year Treasury note yield settling at 4.45% and the 30-year bond falling back to approximately 4.99%. Earlier in May, yields had reached multi-decade highs, reflecting investor concerns over persistent inflation and an increased term premium for long-duration debt.

Energy prices pulled back as reports emerged of a potential 60-day ceasefire memorandum between the U.S. and Iran to restore maritime flows through the Strait of Hormuz. Brent crude fell by 1.7% in late May trading, providing a tailwind for broader market benchmarks despite ongoing concerns regarding global supply stability.