Finance

West Texas Intermediate crude futures advanced 2.7% to settle at $92.87 a barrel, while Brent crude approached the $100 threshold. Energy markets are experiencing heightened pressure as participants gauge the ongoing war impasse involving Iran. The continuous upward trajectory in oil has simultaneously fueled broader market inflation concerns and hardened expectations for a potential Federal Reserve interest rate hike.

Shares of Micron Technology finished up 3% after the semiconductor manufacturer released fiscal fourth-quarter results showing that its revenue quadrupled. The stellar quarterly guidance provided a strong boost to the credit-sensitive tech sector, helping tech stocks withstand multi-decade highs in government yields. Major tech giants like Nvidia also logged gains, underpinning the durable nature of the artificial intelligence theme.

Digital asset funds recorded a substantial injection of $3.55 billion in a single week, with spot Bitcoin ETFs spearheading the surge by pulling in $2.4 billion alone. While Bitcoin has recovered to trade near $84,000 behind institutional demand, the flagship cryptocurrency remains down significantly over the past 12 months. Concurrently, broader crypto market interest continues to diversify into alternative protocols such as Ethereum and Solana.