Finance

Nvidia reported record first-quarter revenue of $81.6 billion, an 85% increase from the previous year, driven by relentless demand for AI infrastructure. Despite raising its dividend and announcing a massive $80 billion share buyback, the stock experienced whipsaw trading as investors weighed a strong sales forecast against concerns over increasing competition and high market expectations.

The 10-year Treasury yield dropped below 4.60% after previously reaching its highest level since May 2025 due to war-driven inflation fears. This move coincided with a substantial decline in crude oil prices, as Brent crude fell over 5% to settle near $105 per barrel following reports of tankers successfully exiting the Strait of Hormuz.

Retail stocks displayed mixed performance as companies navigate high energy costs and shifting consumer habits. While TJX Companies surged nearly 6% on raised sales expectations for its discount chains, Target shares fell roughly 4% despite an earnings beat, as management warned of potential cost headwinds and a cautious outlook for the coming months.