Finance

Dell Technologies shares surged approximately 33% on May 29, recording the company's best single-day performance after exceeding quarterly profit expectations and raising its full-year guidance. This move was echoed across the semiconductor and software sectors, where companies like Micron Technology and Qualcomm posted significant monthly gains. Analysts highlight that the robust growth in AI infrastructure spending remains a primary catalyst for broader equity market strength.

Crude oil prices experienced their sharpest monthly drop since 2020 as optimism grew regarding a potential 60-day ceasefire agreement between the United States and Iran. Brent crude fell to approximately $92 per barrel by month's end, providing some relief to inflation concerns that have pressured global markets. This retreat in energy costs also influenced the U.S. dollar, which saw a weekly loss as safe-haven demand softened following the diplomatic developments.

U.S. Treasury yields eased toward the end of May after reaching multi-year highs earlier in the month, with the 10-year note settling around 4.45%. Although yields across the curve moved higher for the month as a whole, the final week of May saw the first weekly decline in five weeks for the 2-year yield. Markets continue to monitor the Federal Reserve's stance, though recent softening in the PCE price index has slightly reduced immediate fears of further interest rate hikes.