Finance

Semiconductor equities experienced a substantial upswing, providing crucial support to the broader market advance. Prominent industry names like Intel and Advanced Micro Devices recorded double-digit or near double-digit gains, with the latter hitting a $1 trillion market capitalization milestones.

Global energy costs retreated noticeably, offering relief to investors worried about persistent inflation. Both the U.S. benchmark West Texas Intermediate and international benchmark Brent crude dropped below the $100 per barrel mark, driven partly by optimism surrounding diplomatic efforts in the Middle East.

U.S. sovereign bond yields tracking alongside falling energy costs pulled back as market participants slightly adjusted their expectations for Federal Reserve policy tightening. The benchmark 10-year Treasury yield dropped more than 4 basis points, managing to retreat just below the critical 5% ceiling.