Finance

Crude oil prices fell below $80 per barrel on increasing optimism surrounding negotiations between the United States and Iran to reopen the critical Strait of Hormuz waterway. This diplomatic movement helped lower 10-year U.S. Treasury yields to around 4.60%. Consequently, the easing of global energy pressures prompted investors to lower their expectations of an upcoming Federal Reserve interest rate hike.

Palantir Technologies saw its shares soar 29% following a substantial revenue increase fueled by robust enterprise demands for its artificial intelligence tools. Conversely, chipmaker Advanced Micro Devices experienced a sharp decline in its stock price after issuing forward-looking guidance that failed to meet market expectations. Concurrently, network infrastructure firm Arista Networks jumped on better-than-expected earnings projections driven by the ongoing build-out of artificial intelligence infrastructure.

Wall Street is witnessing a notable reallocation of capital toward healthcare stocks as investors seek out appealing valuations and a broader market expansion beyond dominant technology firms. Net inflows to domestic healthcare funds reached $2.44 billion in July, building on gains from the previous month. This renewed interest pushed the S&P 500 healthcare index up more than 11% over a rolling three-month window.