Finance

Diverging corporate earnings results from two tech behemoths heavily influenced the market's performance. Amazon shares surged 15% on the back of stronger-than-expected cloud computing acceleration, soothing overall nerves surrounding heavy artificial intelligence investments. Conversely, Apple shares plummeted 7.4%, wiping out over $350 billion in market value following a disappointing revenue forecast.

Fixed-income markets experienced significant pressure as the 10-year U.S. Treasury yield advanced to 4.75%, its highest mark since early 2025. Concurrently, the 30-year bond yield reached a 19-year peak of over 5.27%. The bond selloff intensified after several Federal Reserve officials vocalized their preference for tighter monetary policy to combat sticky inflation pressures.

Crude oil benchmarks recorded a massive surge of roughly 21% throughout the month, with West Texas Intermediate trading back above $85 per barrel. The primary driver behind the energy spike was an escalation in geopolitical hostilities in the Middle East, which disrupted maritime traffic. Investors remain wary that sustained high energy costs could further complicate the Federal Reserve's inflation battle.