Finance

Technology stocks outperformed the broader market, driven by a 2% rise in Alphabet shares following the company's unveiling of new artificial intelligence chips and strategic partnerships. This tech-led momentum helped the Nasdaq Composite gain 1.64%, marking its fourth record close in the last six sessions.

Despite the diplomatic ceasefire extension, oil prices remained elevated due to persistent uncertainty and reported maritime disruptions in the Strait of Hormuz. Brent crude oil prices briefly traded above $102 per barrel as traders weighed the fragile nature of Middle East peace negotiations against ongoing supply risks.

Cryptocurrencies experienced a significant risk-on surge, with Bitcoin climbing over 5% to approach the $79,000 mark. Analysts attributed the gain to the 'truce' headlines and the growing perception of digital assets as apolitical hedges during periods of heightened geopolitical tension.

A series of positive quarterly reports from companies like GE Vernova and UnitedHealth Group helped sustain the market's upward trajectory. While United Airlines faced pressure from rising fuel costs, the overall trend of stronger-than-expected profits for the start of 2026 has encouraged investors to maintain equity exposure.

U.S. Treasury yields saw moderate fluctuations as investors processed fresh economic data showing a 1.7% rise in March retail sales, which exceeded analyst expectations. The 10-year yield settled near 4.28% as the market balanced robust domestic consumer demand with the potential for higher-for-longer interest rates.