Finance

Energy markets saw a significant pullback as investors reacted to comments from government officials signaling that the U.S. and Iran may be nearing an interim agreement. The prospective deal aims to reopen the critical Strait of Hormuz waterway, alleviating supply concerns that previously caused energy metrics to spike. Consequently, West Texas Intermediate and Brent crude futures fell sharply, helping ease broader inflationary anxieties on Wall Street.

Shares of Palantir Technologies skyrocketed nearly 30% during a single trading session, marking one of its best-performing days on record. The rally followed a blowout quarterly report that featured a 90% year-over-year surge in commercial revenue driven by extensive demand for its artificial intelligence tools. The performance anchored a wider recovery in technology and semiconductor counters, which rebounded strongly from a mid-summer slump.

The cryptocurrency market found a renewed tailwind as Bitcoin pushed back above the $64,000 threshold, rebounding from a recent local bottom. Digital assets were boosted by a shift toward positive risk sentiment across broader global markets amid expectations of a diplomatic breakthrough in the Middle East. Despite the upward traction, analysts note that the digital currency remains within a range-bound summer consolidation pattern.