Finance

Shares of Dell Technologies surged nearly 33% in a single session, recording their best daily performance on record after the company exceeded first-quarter expectations and raised its full-year guidance. This rally reinforced the broader artificial intelligence infrastructure trade, fueling significant gains in other semiconductor and hardware names like Micron and Qualcomm.

While the 30-year U.S. Treasury yield reached a 19-year high of 5.2% earlier in May due to persistent inflation concerns, yields saw a moderate retreat toward the end of the month. The 10-year note finished at approximately 4.45% as the market reacted to a four-day streak of falling yields for shorter-duration securities.

Crude oil futures fell sharply in May, with West Texas Intermediate (WTI) dropping over 16% to finish below $88 per barrel. The decline was largely driven by reports of a preliminary ceasefire agreement between the U.S. and Iran, raising market expectations for the restoration of energy flows through the Strait of Hormuz.