Finance

Robust earnings and optimistic guidance from major semiconductor firms have fueled a significant upturn in the technology sector. Shares of Advanced Micro Devices soared nearly 19% following a strong quarterly report, while Super Micro Computer also saw substantial gains due to continued demand for AI-related hardware.

Energy prices fell sharply as optimism grew for a diplomatic resolution to the conflict between the U.S. and Iran. Brent crude dropped to approximately $99 per barrel, a decline that has helped ease immediate inflation concerns and improved market sentiment across consumer-focused sectors.

U.S. Treasury yields held steady after a notable drop, with the 10-year note yield hovering around 4.35%. This downward movement in borrowing costs was primarily driven by plunging oil prices and hopes for regional stability, which may reduce the pressure on the Federal Reserve to maintain highly restrictive interest rates.