Finance

Energy prices jumped over 2% while bond yields rose across the board as markets reacted to new military strikes in the Middle East. The 10-year U.S. Treasury note yield climbed to approximately 4.52% as investors weighed the inflationary impact of the continued closure of the Strait of Hormuz.

Wall Street is shifting its focus to the April Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge. Analysts warn that a higher-than-expected print could solidify expectations for a interest rate hike by the end of 2026, especially as energy-driven inflation remains sticky.

The semiconductor giant continues to experience significant price swings as it trades near $215, with investors scrutinizing the delivery timeline for its Blackwell chips. While analysts maintain a bullish long-term outlook with targets reaching as high as $350, near-term concerns regarding hyperscaler spending and geopolitical export restrictions persist.