Finance

The Nasdaq Composite surged nearly 2%, significantly outperforming other major indexes thanks to a rally in semiconductor stocks. Intel shares jumped 11% following reports of a potential manufacturing partnership with Apple, while other industry leaders like Micron and Marvell also posted substantial gains.

Although interest rates remained unchanged at the latest FOMC meeting, updated 'dot plot' projections revealed that half of the committee members now anticipate a rate hike before the end of 2026. This shift toward a more restrictive policy stance initially pressured bonds, though the 10-year Treasury yield eased slightly to approximately 4.46% on Thursday.

Crude oil benchmarks fell as the signing of the U.S.-Iran memorandum of understanding raised expectations for a surge in global supply. Brent crude dropped to the $75 range as traders anticipated the imminent release of millions of barrels previously stranded in the Middle East due to the conflict.