Finance

Wall Street benchmarks opened higher following the encouraging economic updates and a drop in crude prices. The S&P 500 and Nasdaq Composite built on previous gains to trade near their historical highs, while the Dow Jones Industrial Average added over 100 points.

Despite overall market positivity, several prominent technology companies experienced sharp contractions following overnight earnings updates. Chipmaker Cerebras Systems tumbled after posting weaker-than-expected revenue guidance, while networking giant Cisco Systems also saw its shares retreat as investors took profits.

Crude oil benchmarks fell roughly 2% due to softer demand projections alongside ongoing international conflicts. Brent crude slipped toward $87 per barrel and West Texas Intermediate dropped to near $81, helping ease near-term inflation anxieties.