Finance

Market sentiment was influenced by the latest Personal Consumption Expenditures price index report, which revealed that inflation remains stubbornly elevated. The hotter-than-expected data caused U.S. Treasury yields to climb, with the 10-year yield rising to 4.67%. The data reinforced expectations that the Federal Reserve could implement a rate hike later this year.

Shares of the semiconductor giant dipped roughly 1% in after-hours trading despite reporting a stellar second quarter that exceeded Wall Street estimates. The chipmaker posted nearly $60 billion in net income and issued a robust revenue guidance of $108 billion for the current quarter. Market participants appeared hesitant, following a recent trend where the stock cools down immediately after earnings reports.

The leading cryptocurrency consolidated around the $78,000 to $79,000 range after briefly breaching the psychological $80,000 threshold. The digital asset's strong performance over the past week was primarily driven by unexpected liquidity adjustments from the U.S. Treasury Department and shifting fiscal dynamics. Strong institutional demand is still evident via steady inflows into spot exchange-traded funds.