Finance

In the most recent trading sessions, technology stocks led a significant market recovery, with the Nasdaq Composite climbing nearly 2%. Semiconductor firms experienced outsized gains following news of a domestic chip-making partnership between Apple and Intel, while Nvidia and Alphabet rose to become the largest companies in major US indices.

The 2-year Treasury yield surged to its highest level since early 2025 after the Federal Reserve's latest 'dot plot' indicated that most officials expect interest rates to stay higher for longer. While rates were held steady at 3.5%-3.75%, money markets are now pricing in a potential hike as early as September under new Chair Kevin Warsh.

Global oil prices have stabilized below $80 per barrel as an interim peace deal between the US and Iran begins to take effect. Initial reports indicate a restoration of oil tanker traffic through the Strait of Hormuz, providing significant relief to energy markets that had been volatile due to geopolitical supply risks.