Finance

Oil prices continued their upward trajectory, with Brent crude rising above $105 per barrel as the Strait of Hormuz remains effectively closed. The energy sector's gains have become a focal point for traders assessing the risk of persistent inflation and potential supply disruptions stemming from the ongoing conflict in the Middle East.

In the cryptocurrency market, Bitcoin maintained its position just below the $80,000 mark, supported by resilient institutional demand even amidst broader market volatility. Conversely, Ethereum experienced a pullback toward the $2,300 level as short-term traders moved to lock in gains following a strong weekly rally.

The technology sector faced significant headwinds as a batch of mixed earnings reports reignited fears over AI-driven industry disruption. Notably, the software segment within the S&P 500 tumbled over 5%, with major players like IBM and Microsoft seeing substantial declines following disappointing revenue growth or headcount reduction plans.

Recent data indicates that the U.S. labor market remains anchored by low layoff rates, with initial unemployment claims showing no immediate signs of stress from the regional war. However, persistent inflation driven by higher fuel costs has led some major corporations, such as American Airlines, to lower their profit forecasts for 2026.

Despite broad market weakness, the semiconductor industry continues to show strength, led by robust first-quarter results from companies like Intel. Analysts note the market remains in a state of narrow leadership, where gains are concentrated in chipmakers even as other major sectors struggle to maintain momentum.