Finance

U.S. equity markets kickstarted the first trading day of October on a positive note. The S&P 500 rose 0.26% to close at 7,671.60 points, and the tech-heavy Nasdaq Composite added 0.27% to settle at 26,934.25. While the broader market remains pressured by macroeconomic challenges, artificial intelligence and chipmaker stocks successfully powered the day's advance.

Oil prices continued their upward trajectory, with West Texas Intermediate crude climbing to approximately $93 per barrel and Brent crude briefly touching the $100 mark. Energy markets are reacting strongly to ongoing geopolitical risks, including reports that the United States may deploy an additional aircraft carrier and thousands of troops to the Middle East. Furthermore, supply strains were aggravated as China suspended certain fuel product exports to prioritize domestic inventory.

Shares of Micron Technology helped anchor the broader technology sector's gains following a blowout quarterly earnings report. The chipmaker announced a dramatic revenue increase that quadrupled its prior performance, fueling robust optimism across the semiconductor landscape. The upbeat financial metrics helped insulate tech stocks from broader macroeconomic headwinds driven by rising raw material prices.