Finance

The chip sector remains a dominant market driver, with Intel shares surging 13% after reports of potential chipmaking partnerships with Apple. Advanced Micro Devices also saw a significant 16% jump in extended trading following a robust second-quarter revenue outlook of approximately $11.2 billion, further lifting the technology-heavy Nasdaq.

Global oil benchmarks declined as investors reacted to the possibility of a resolved conflict in the Middle East. Brent crude dropped 3.3% to approximately $106 per barrel, providing a reprieve for the broader market after recent concerns that supply disruptions would keep energy costs above $100 for the foreseeable future.

The 10-year U.S. Treasury yield recently hovered near 4.4% as the market balances diplomatic optimism with ongoing inflation pressures. Although yields dipped slightly on Wednesday, investors remain cautious as public debt levels have surpassed GDP and recent consumer price data shows inflation holding well above the Federal Reserve's target.