Finance

Micron Technology shares soared 19% to surpass a $1 trillion market capitalization, serving as a primary catalyst for the recent tech-led rally. This surge reflects intense investor interest in artificial intelligence infrastructure and follows aggressive price target upgrades from Wall Street analysts who anticipate substantial long-term growth for memory chip providers.

Hopes for a diplomatic resolution to the conflict with Iran have led to a decline in global oil prices and U.S. Treasury yields. The 10-year Treasury yield fell to approximately 4.48% as investors reacted to reports of potential progress in negotiations to reopen the Strait of Hormuz, which could alleviate significant inflationary pressures on the global economy.

A stark divergence has emerged between soaring equity markets and public economic perception, with the University of Michigan's consumer sentiment index hitting its lowest level on record in May 2026. Persistent concerns regarding gas prices and high inflation continue to dampen household confidence even as institutional forecasts for the S&P 500 are revised upward toward the 8,000 mark.