Finance

Shares of memory-chip and data storage manufacturers experienced a robust rally, serving as the primary catalyst for Wall Street's tech-driven recovery. Micron Technology jumped over 12%, while Sandisk Corporation surged 14%, fueled by positive sentiment trailing a recent artificial intelligence deal between Advanced Micro Devices and Microsoft. Market participants are heavily anticipating upcoming earnings reports from Big Tech firms to gauge the longevity of capital expenditure trends in AI infrastructure.

Global energy markets saw significant upward pressure as front-month Brent crude futures climbed above $91 a barrel, reaching their highest settlement in more than a month. The price appreciation was heavily driven by intensifying Middle East hostilities, specifically concerning fresh military strikes involved in the war with Iran. The escalating conflict has spurred fears of localized supply disruptions, consequently pushing Treasury yields higher across the bond market.

The cryptocurrency market witnessed a notable recovery as Bitcoin surged past $66,000 to touch its highest level since early June. The digital token was bolstered by steady institutional demand, with spot Bitcoin exchange-traded funds recording two consecutive weeks of positive net inflows. Gains also permeated throughout crypto-tied equities, causing platforms like Coinbase Global and Robinhood Markets to trade sharply higher during the session.