Finance

Technology shares led the market's upward momentum as investors continue to pour capital into the artificial intelligence infrastructure boom. Key industry players such as Micron Technology surged 16% on memory chip demand, while Nvidia reached an intraday record, helping push the overall tech sector up by roughly 2.5% in a single session.

The yield on the 10-year Treasury note hovered around 4.38% as traders balanced a resilient labor market against rising energy costs. Bond investors have shifted their primary focus toward the potential impact of Middle East tensions and the Strait of Hormuz transit status on long-term interest rate projections.

Crude oil prices remained elevated with Brent crude trading above $100 per barrel as markets react to ongoing conflicts and potential supply disruptions in the Persian Gulf. While some risk premiums fluctuated based on ceasefire hopes, domestic U.S. retail gasoline prices reached levels not seen since 2022, adding pressure to consumer discretionary spending.