Finance

Crude oil futures climbed over the week, with West Texas Intermediate trading above $82 per barrel. Energy markets reacted to a series of geopolitical developments, including reports of a tanker attack in the Persian Gulf and an ongoing U.S. naval blockade of Iranian ports. These supply-chain anxieties boosted energy sector equities even as the broader markets softened.

Chip equipment manufacturer Applied Materials saw its shares drop more than 5% despite delivering quarterly earnings and future guidance that beat consensus expectations. Analysts noted that exceptionally high valuation bars for artificial intelligence infrastructure stocks have made investors highly sensitive. The broader semiconductor sector followed suit, with notable intraday pullbacks across major players like Broadcom and Intel.

Shares of the social media company surged dramatically in recent trading sessions following news that it will officially join the benchmark S&P 500 index. The transition is scheduled to take effect prior to the opening bell on August 18. This inclusion frequently triggers automated buying from passive index-tracking funds, leading to a strong upward shift in the stock's valuation.