Finance

West Texas Intermediate and Brent crude futures climbed roughly 3%, reaching a six-week high amid ongoing military exchanges between the U.S. and Iran in the Middle East. The quick rebound toward the $100 per barrel mark has sent average domestic retail gasoline prices above $4 a gallon, refueling anxieties that persistent inflation could compel the Federal Reserve to implement additional interest rate hikes.

Bond yields moved sharply upward as escalating commodity and energy prices pressured fixed-income assets. The yield on the benchmark 10-year Treasury note advanced to 4.65%, touching its highest intraday level in two months and contributing to a tightening of long-term borrowing costs.

Shares of Super Micro Computer surged over 24% following the disclosure of a stronger-than-anticipated gross margin outlook and a record-breaking influx of over $60 billion in fresh orders. The financial update highlighted intensive demand for liquid-cooled artificial intelligence server rack solutions, boosting peer hardware makers like Dell and Hewlett Packard Enterprise.