Finance

Global crude benchmarks dropped sharply by nearly 4%, falling toward $90 per barrel following reports that Iran is reviewing a U.S. proposal to end regional hostilities. A successful resolution could reopen the Strait of Hormuz, a vital artery for global energy trade, and ease the inflation concerns that have recently pressured the energy sector.

Tech-focused stocks, particularly in the semiconductor industry, saw significant gains after AMD reported robust quarterly results driven by high demand for server CPUs. Despite concerns regarding heavy capital expenditures from megacap firms like Microsoft and Meta, analyst sentiment remains positive on the long-term productivity gains expected from artificial intelligence.

The yield on the benchmark 10-year U.S. Treasury note fell to approximately 4.33%–4.35%, retreating from a nine-month peak reached earlier in the week. This downward movement followed a cooling of inflation expectations as energy costs eased, though the broader bond market continues to monitor the Federal Reserve's stance on future rate cuts.