Finance

Tech giants experienced contrasting fortunes following their quarterly financial updates. Amazon shares surged roughly 15% on the back of explosive AI-driven cloud computing sales, whereas Apple plunged around 9% due to weaker forward revenue forecasts tied to component supply issues.

Bond yields across multiple maturities climbed higher as dissenting voices at the Federal Reserve pushed for rate hikes to combat inflation. The 10-year Treasury note yield rose past 4.7% to its highest level since January 2025, while the 30-year bond yield expanded to a peak last seen in 2007.

Crude oil futures traded higher following reports of renewed friction and tanker disruptions around the crucial Strait of Hormuz. International benchmark Brent crude moved toward the $90 a barrel mark, compounding existing market anxieties regarding persistent inflationary pressures across the broader economy.