Finance

Shares of Microsoft jumped more than 15% following the release of its impressive quarterly earnings. The blockbuster financial performance, highlighted by strong cloud unit expansion, provided a massive boost to broader market confidence regarding heavy corporate spending on artificial intelligence infrastructure.

Yields on long-term government bonds continued their upward march, with the 30-year U.S. Treasury bond hitting its highest level in nearly two decades. The move reflects growing market anxiety over persistent inflationary pressures and a lack of explicit forward guidance after the Federal Reserve opted to maintain its benchmark interest rates unchanged.

The price of Bitcoin stabilized to trade above $64,000 as investors responded favorably to the Federal Reserve's decision to hold borrowing costs steady. Despite the immediate price recovery, broader data revealed that monthly institutional interest hit historical lows, with spot Bitcoin exchange-traded funds tracking their smallest net inflows on record for July.