Finance

Strong quarterly results from companies like Ross Stores, Workday, and Zoom Communications helped propel stocks upward. Continued enthusiasm for artificial intelligence remains a primary catalyst, with specialized hardware and software providers reporting robust profits that offset broader economic anxieties.

Benchmark 10-year Treasury yields eased slightly to approximately 4.57% following a volatile week. This stabilization occurred as Kevin Warsh was sworn in as the new Federal Reserve Chair, with investors closely monitoring his stance on inflation and the potential for a rate hike later in the year.

Oil prices showed modest movement as markets weighed conflicting reports regarding peace negotiations with Iran. While Brent crude sat above $103 per barrel, a slight dip later in the week helped ease pressure on equity markets and stabilized inflation expectations ahead of the Memorial Day weekend.