Finance

US stocks climbed during the final trading session of the week as the semiconductor sector reached record highs. Significant gains were led by a strategic partnership between Intel and Apple, while companies like Nvidia and Micron continue to benefit from robust demand for artificial intelligence infrastructure.

In his debut as Fed Chair, Kevin Warsh signaled a "higher for longer" interest rate environment, with many policymakers anticipating at least one more hike by the end of 2026. This hawkish shift has led to a jump in short-term Treasury yields as markets price in a potential rate increase by September or October.

Crude oil prices have retreated toward $76 per barrel following a memorandum of understanding between the US and Iran to reopen the critical Strait of Hormuz. Despite the weekly drop of nearly 10%, analysts remain cautious about the durability of the deal as regional geopolitical tensions persist.