Finance

Brent crude oil prices climbed above $100 a barrel as investors reacted to escalating tensions in the Middle East and a fourth consecutive session of gains. The surge in energy costs is driving a notable divergence in market performance, with energy sector stocks like Exxon Mobil and Chevron significantly outperforming the broader market this year.

High-growth tech stocks continue to drive market gains in April, largely recovering from a volatile first quarter. While companies like GE Vernova reported strong quarterly results, other major players such as Tesla and IBM saw their stock prices fluctuate or drop following disappointing capital expenditure warnings and earnings misses.

The Federal Reserve has kept the federal funds rate steady at the 3.5%–3.75% range, with markets pricing in a near-certainty that rates will remain unchanged through April. Policymakers are closely monitoring the impact of high oil prices on inflation, which currently remains above the central bank's 2% target.

The cryptocurrency market is showing signs of consolidation, with Bitcoin trading near the $75,000 level and facing resistance around $80,000. Stability in the sector is increasingly supported by spot ETFs and institutional involvement, as evidenced by recent filings for new crypto-focused investment products from major financial firms.

Avis Budget Group shares witnessed a dramatic surge to record highs followed by a sharp intraday plunge, drawing comparisons to historical short-squeeze events. The high volatility led some brokers to adjust margin requirements to 100% for concentrated positions, forcing many traders to conduct transactions entirely in cash.