Finance

The information technology sector provided the strongest upward momentum for the broader stock market, gaining 0.8% to break a multi-day losing streak for the S&P 500. This rally was largely spearheaded by a sharp advance in semiconductor stocks following robust quarterly earnings reported by Micron Technology. Heavyweight tech firms like Nvidia and Apple also offered key baseline support.

Spot gold prices edged down toward $4,166 per ounce, pacing toward a second straight weekly decline of over 2%. The bullion faces strong headwinds from persistent strength in the U.S. Dollar Index and elevated bond yields, which increase the opportunity cost of holding non-yielding precious metals. Investors are scaling back near-term rate-cut bets as energy prices stoke ongoing inflation concerns.

Global energy markets continue to experience elevated pricing, with Brent crude trading just above $100 per barrel and West Texas Intermediate holding near $92 per barrel. Persistent geopolitical friction involving the United States and Iran, alongside concerns regarding trade flows through critical transit points, keeps supply risks at the forefront. These elevated fuel costs continue to present a challenge to central bank efforts to cool inflation.