Finance

The technology market saw its largest initial public offering in years as AI chipmaker Cerebras Systems debuted on the Nasdaq, with shares surging as much as 68% on their first day of trading. This massive debut, which pushed the company's valuation to approximately $95 billion, underscored intense investor appetite for artificial intelligence infrastructure despite a broader pullback in established semiconductor giants like Nvidia and Intel.

Global oil markets remain under pressure as the continued closure of the Strait of Hormuz keeps crude prices elevated near $106 per barrel, contributing to a significant rise in domestic energy costs. While U.S. industrial natural gas consumption is projected to reach record highs in 2026, the ongoing conflict-driven supply disruptions have neutralized many fiscal benefits for consumers and increased the risk of a hawkish Federal Reserve response.

Digital assets experienced a sharp downturn as approximately $2.6 billion in options contracts expired on the Deribit exchange, leading to widespread liquidations across Bitcoin and Ethereum. Bitcoin fell from recent highs of $82,000 to trade near the $80,000 mark, even as the industry cheered the Senate Banking Committee's progress on the Clarity Act, a major step toward a comprehensive U.S. regulatory framework for stablecoins.