Finance

Oil futures posted significant gains as uncertainty mounted over negotiations between the U.S. and Iran regarding the reopening of the Strait of Hormuz. The ongoing conflict and shipping redirections by Central Command have kept global supply routes interrupted, intensifying energy market anxieties.

Shares of Intel fell more than 4% after the company disclosed plans for a potential $15 billion equity sale. The capital raise is intended to fund expanding investments in artificial intelligence infrastructure, though the prospective shareholder dilution weighed on the stock.

The yield on the 10-year U.S. Treasury note climbed toward 4.70% as market participants repositioned ahead of July consumer price index data. Despite a weak employment report cooling short-term interest rate hike expectations, the persistent energy shock continues to complicate the Federal Reserve's path.