Finance

Technology shares, particularly in the semiconductor and memory chip industries, drove the broader market's rally as demand for artificial intelligence infrastructure continues to accelerate. Major industry players like Intel, Micron, and AMD saw significant price increases, with analysts noting that the current market momentum mirrors the growth patterns seen during the dot-com era.

Crude oil prices rose as investors monitored the fluid situation surrounding the U.S.-Iran conflict and potential disruptions in the Strait of Hormuz. Despite some optimism regarding a possible ceasefire or agreement, West Texas Intermediate (WTI) crude and Brent crude remained at elevated levels, contributing to ongoing inflation concerns among consumers.

The 10-year Treasury yield declined to 4.36% after a University of Michigan survey indicated that consumer sentiment had fallen to its lowest level since 2022. While the labor market remains strong, households have expressed increasing worry over high gasoline prices and the impact of tariffs on the broader economy.