Finance

Global energy markets experienced a stabilizing trend as international benchmark Brent crude hovered around $79 to $80 per barrel. Investor anxiety regarding global logistics was significantly alleviated by optimistic statements from Washington suggesting an imminent agreement with Iran and Oman to reopen the strategically vital Strait of Hormuz. This potential breakthrough has tempered recent fears of escalating shipping costs and sustained inflationary pressures.

Prominent technology enterprises faced notable selling pressure as shareholders scrutinized heavy capital allocations toward artificial intelligence infrastructure. Shares of SpaceX fell significantly in its first quarterly report as a public company due to increased AI development costs, though its decision to exclusively deploy Nvidia processors provided a 4.4% boost to the chip manufacturing giant. Conversely, rival semiconductor manufacturer Advanced Micro Devices saw its shares slide more than 6% despite reporting otherwise healthy earnings.

Digital assets mirrored the broader financial landscape by showing modest gains as risk-on sentiment trickled into the cryptocurrency ecosystem. Bitcoin recovered past the $64,000 threshold and Ethereum edged higher to approach $1,880 amid steady inflows into spot exchange-traded funds. Market participants largely attributed the stabilizing crypto environment to cooling oil prices, which lower the immediate probability of restrictive monetary policy shifts by the Federal Reserve.