Finance

Market sentiment has been bolstered by reports of a potential 60-day ceasefire extension between the U.S. and Iran, aimed at restoring commercial vessel flow through the Strait of Hormuz. This geopolitical progress contributed to a retreat in crude oil prices, which dipped toward $90 per barrel, easing some immediate inflationary concerns.

The 10-year U.S. Treasury yield recently settled around 4.45%, falling from previous highs as investors processed mixed economic signals including revised GDP growth and steady consumer spending. While inflation remains above the Federal Reserve's 2% target, the market is closely watching upcoming labor data and manufacturing PMI reports to gauge the next interest rate move.

The technology sector continues to outperform, with the Nasdaq 100 recently surpassing the 30,000 milestone for the first time. Gains are largely concentrated in AI hardware and infrastructure, highlighted by significant market capitalization milestones for chipmakers like Micron and substantial revenue growth in cloud-native platforms.