Finance

Oil prices experienced a significant decline, falling over 3% to approximately $94 per barrel amid reports of a tentative 60-day ceasefire extension between the U.S. and Iran. This geopolitical shift has eased immediate inflationary fears and helped stabilize broader financial market volatility as the month of May concludes.

The tech sector remains a primary driver of market growth in 2026, with major indexes benefiting from an 8% surge in the Nasdaq throughout May. Leading firms like Microsoft and Micron Technology continue to see gains, supported by record quarterly earnings and persistent enthusiasm for artificial intelligence infrastructure.

The 10-year Treasury yield held steady near 4.45% after U.S. PCE price index data came in softer than anticipated. While long-term borrowing costs like the 30-year yield reached 19-year highs earlier this month, recent diplomatic developments and moderated inflation prints have provided some relief to the bond market.