Finance

Artificial intelligence and memory-chip leaders paced the broader market recovery as investors rotated heavily back into the sector. Industry heavyweights like Micron Technology surged more than 12% and SanDisk advanced 14%, while the broader PHLX Semiconductor Sector Index logged a stellar rally of over 5%. This massive tech reversal completely overshadowed ongoing macroeconomic and geopolitical anxieties.

Global oil prices reached their highest level in over five weeks, with Brent crude settling above $91 a barrel. The ongoing geopolitical escalation and military actions involving the U.S. and Iran in the Middle East have triggered extensive supply disruption fears. This rapid energy price surge has additionally placed upward pressure on U.S. Treasury yields.

Better-than-expected quarterly results from prominent blue-chip corporations gave equities a significant lift. Industrial and automotive giants like 3M Company and General Motors posted strong financial performances that helped alleviate mounting fears about the state of corporate America. Investors are now shifting their attention to highly anticipated big tech earnings scheduled later in the week.