Finance

Strong performance in the technology sector was driven by Alphabet's unveiling of new AI chips and hardware partnerships, which sparked a broad market rebound. Micron Technology shares jumped 8.5% as investors reacted to sustained demand for AI-fueled memory, further supporting the Nasdaq's climb to fresh intraday records.

Brent crude oil prices briefly topped $102 per barrel as uncertainty regarding the long-term status of the war with Iran persists. Although the ceasefire provided a temporary lift to equities, the ongoing threat of supply disruptions in the Strait of Hormuz has kept energy-driven inflation risks at the forefront of market concerns.

Positive quarterly results from major companies such as GE Vernova and ServiceNow have contributed to the market's upward momentum. Tesla also reported a significant beat on profit margins and cash flow after the bell, leading to a nearly 4% rise in its shares during after-hours trading.

Bitcoin climbed above $78,000 as risk-on sentiment returned to the markets following the indefinite extension of the geopolitical ceasefire. Simultaneously, cannabis stocks like Tilray Brands and Canopy Growth soared over 14% and 20% respectively, amid reports that the administration is nearing a decision to reschedule marijuana.

U.S. 10-year Treasury yields remained relatively steady at approximately 4.30% as the bond market found a range-bound equilibrium. Meanwhile, gold prices increased to roughly $4,758 per ounce, reflecting continued demand for the metal as a hedge against long-term inflation and geopolitical volatility.