Finance

Technology shares led the broader market turnaround following exceptionally strong quarterly results from Micron Technology. The memory chipmaker reported a massive surge in revenue driven by robust artificial intelligence demand, lifting valuations across the entire semiconductor sector. Other major tech entities like Alphabet also supported index gains by introducing new generative AI product iterations.

Energy markets experienced fresh supply constraints as West Texas Intermediate crude advanced past $92 per barrel and Brent crude reached the $100 milestone. The upward price movement followed reports that Chinese refiners have halted oil product exports outside of Hong Kong and Macau for the month. This regulatory suspension has aggravated global market conditions that were already strained by geopolitical friction.

Despite the temporary pause in the bond selloff, the U.S. Dollar Index climbed to fresh highs on continuing expectations of a tighter monetary policy stance. Investors remain highly attentive to upcoming nonfarm payrolls and wage statistics to evaluate if a hot labor market will trigger additional rate increases later in the year. Geopolitical instability and persistent energy costs continue to present structural risks to the inflation trajectory.