Finance

Shares of Dell Technologies jumped more than 32% following an earnings report that exceeded analyst expectations for both profit and revenue. The company also increased its future outlook, citing significant and growing demand for high-performance servers required for AI computing.

The yield on the 10-year U.S. Treasury note retreated toward 4.44% as reports of a potential 60-day ceasefire extension between the U.S. and Iran emerged. This cooling follows a period of heightened volatility where long-duration benchmarks, such as the 30-year Treasury, recently touched their highest levels in nearly two decades.

Brent crude and West Texas Intermediate futures fell more than 1% on the final trading day of the month, finalizing a nearly 17% to 19% drop for May. This significant monthly loss was driven by optimism surrounding a possible memorandum of understanding to resolve regional conflicts and reopen the Strait of Hormuz.