Finance

Semiconductor and AI infrastructure stocks continue to lead market gains, with Marvell Technology surging over 32% following optimistic growth projections from Nvidia leadership. Hewlett Packard Enterprise also saw a significant jump of nearly 30% after providing higher earnings guidance driven by AI demand. However, the sector saw divergence as Alphabet shares fell roughly 4% due to an $80 billion stock sale intended to fund its own extensive AI infrastructure buildout.

Crude oil prices climbed to approximately $97 per barrel as escalating conflict in the Middle East and military strikes near the Strait of Hormuz raised fears of supply disruptions. These geopolitical risks are weighing on broader market sentiment by stoking concerns of renewed inflationary pressure. While some diplomatic progress between the U.S. and Iran has been reported, the uncertainty continues to keep energy markets volatile.

U.S. Treasury yields across the curve moved lower, with the 10-year benchmark yield settling around 4.43%. Market participants are actively pricing out the likelihood of Federal Reserve rate cuts for the remainder of 2026, shifting focus toward potential future hikes instead. This broad repositioning comes ahead of critical labor market data and upcoming commentary from central bank officials.