Finance

Enthusiasm for artificial intelligence remains a primary market driver, with specialized hardware companies seeing significant valuation milestones. Notably, memory chipmaker Micron exceeded a $1 trillion market capitalization, while companies like Dell and Super Micro Computer experienced double-digit gains following increased demand for AI servers.

The 10-year U.S. Treasury yield hovered around 4.45% as investors monitored potential progress in negotiations to end the conflict in Iran. While yields remain elevated compared to pre-war levels due to persistent core inflation and high government borrowing, recent hopes for a 60-day ceasefire have helped lower immediate inflationary pressures from energy costs.

Oil prices have experienced volatility as investors balance reports of military strikes with possible diplomatic breakthroughs. While Brent crude briefly rose above $93 a barrel due to tensions in the Strait of Hormuz, signs of a preliminary understanding between the U.S. and Iran led to a subsequent retreat in prices toward the $90 mark.