Finance

Crude oil prices advanced as West Texas Intermediate rose toward $96 per barrel and Brent climbed above $107 following news that U.S.-Iran peace talks were scrapped over the weekend. Tensions were further exacerbated by the continued restriction of movement through the Strait of Hormuz, a critical global energy shipping lane.

The PHLX Semiconductor Index has maintained an extraordinary rally, logging 18 consecutive days of gains as of late April. Major players like Intel and Nvidia have reached record highs, driven by strong quarterly revenue forecasts and persistent investor enthusiasm for artificial intelligence infrastructure.

Bitcoin prices retreated to approximately $77,700, struggling to break past the $80,000 psychological barrier as whales began distributing holdings. Despite the pullback, the market remains focused on a major industry conference in Las Vegas where top regulatory officials are expected to speak on the future of digital assets.

Market participants are bracing for a high-impact week featuring interest rate decisions from the Federal Reserve, the European Central Bank, and the Bank of Japan. Additionally, major technology firms including Alphabet, Microsoft, Amazon, and Meta are scheduled to release quarterly financial results, representing a significant portion of the Nasdaq's total valuation.

The 10-year U.S. Treasury yield held steady at 4.31% as markets prepare for what may be Federal Reserve Chair Jerome Powell's final press conference before a potential leadership change in May. Investors are closely monitoring upcoming GDP data and manufacturing reports for further clues on the direction of interest rate policy.