Finance

Technology and semiconductor shares led the market higher today following impressive quarterly financial results from prominent artificial intelligence hardware firms. AI cloud company CoreWeave experienced a significant stock surge after exceeding earnings expectations and lifting its annual capital spending guidance. Server manufacturer Super Micro Computer and chip giant Nvidia also posted solid gains, underscoring resilient global demand for enterprise data center capacity.

Precious metals ticked upward today, with gold futures climbing nearly 1% to hover around the $4,480 per ounce threshold. The bullion market has been well-supported by easing expectations for subsequent Federal Reserve interest rate hikes and a weak July jobs report from last week. Sustained safe-haven demand stemming from prolonged geopolitical tensions in the Middle East has also kept prices elevated.

International and domestic crude prices experienced modest declines, with West Texas Intermediate futures settling near $82.80 a barrel and Brent crude slipping to roughly $91.60 a barrel. The price drops occurred despite reported Houthi missile strikes on cargo vessels in the Red Sea and Gulf of Oman. Market participants largely shrugged off the immediate supply disruptions as the diplomatic impasse over the Strait of Hormuz continues.