Finance

Oil prices jumped as uncertainty surrounding the conflict in the Strait of Hormuz intensified, with Brent crude briefly surpassing $107 per barrel. Geopolitical risk rose after reports of naval threats in the region, leading to increased volatility across energy markets and broader financial benchmarks.

Tesla's stock fell more than 3% as investors reacted to a substantial increase in projected capital expenditures for 2026, targeting $25 billion for AI and robotics initiatives. While the company reported higher energy unit margins, the massive spending commitment for autonomous technology raised concerns regarding near-term free cash flow.

In contrast to the broader technology weakness, Intel shares jumped roughly 20% in late trading after reporting first-quarter results that significantly exceeded analyst expectations. The chipmaker posted adjusted earnings of 29 cents per share, well above the anticipated 1 cent, signaling a potential revival in its core operations.

Bitcoin prices hovered near the $78,000 mark as the cryptocurrency market mirrors the broader risk-off sentiment seen in equities. Although institutional inflows into spot ETFs remain positive, analysts suggest the rally faces a major psychological test at $80,000 while altcoins show divergent momentum.

U.S. Treasury yields edged higher as bond investors weighed the inflationary impact of prolonged energy price shocks caused by the Middle East conflict. The 10-year Treasury note yield remained near 4.3% as markets braced for the Federal Reserve to maintain elevated interest rates through most of 2026.