Finance

Shares of Dell Technologies surged approximately 33% in a single session following a blowout quarterly report that surpassed analyst expectations. The company significantly raised its financial guidance, citing a historic wave of investment in servers and hardware capable of supporting generative AI applications.

Benchmark 10-year Treasury yields eased to approximately 4.44% as reports surfaced of a potential 60-day ceasefire memorandum between the United States and Iran. This progress toward stabilizing Middle Eastern conflicts has provided a respite for the bond market and lightened immediate concerns regarding energy-driven inflation.

Brent crude oil prices declined toward $91 per barrel as markets reacted to the possibility of restored vessel flows through the Strait of Hormuz. The cooling of global oil benchmarks has alleviated pressure on transportation and consumer discretionary sectors, which led market gains late in the week.