Finance

Technology and chipmaker stocks saw a notable rebound on Monday, with the Philadelphia SE Semiconductor index jumping over 4% after several sessions of losses. Broadcom led gains following an expanded partnership deal with Apple, helping to offset broader investor skepticism about the immediate profitability of heavy artificial intelligence infrastructure investments. This recovery comes as the market prepares for a significant U.S. listing from South Korean memory maker SK Hynix.

Recent employment reports showing lower-than-expected job growth but a decline in the unemployment rate to 4.2% have led market participants to recalibrate Federal Reserve expectations. Treasury yields drifted lower as the data suggested a resilient yet cooling economy, reducing the perceived urgency for near-term rate hikes. This shifting macroeconomic backdrop has bolstered risk appetite in equity markets as the probability of continued stable central bank policy increases.

Crude oil prices have retreated toward pre-war levels, with Brent crude trading near $72 per barrel as shipping traffic through the Strait of Hormuz begins to stabilize. The decline is further supported by an OPEC+ decision to gradually increase production targets through the remainder of the summer. While wholesale energy costs have fallen significantly over the last month, consumer gasoline prices remain a point of political and economic tension.