Finance

A gauge of major chipmakers surged 2.8% to snap an extended multi-day losing streak fueled by capital cost anxieties. Investors are carefully assessing valuations and technical conditions before high-profile quarterly reports drop from artificial intelligence and megacap heavyweights later this week.

Commodities remained at the forefront of market attention, with West Texas Intermediate crude oil hovering near the $100 per barrel threshold amid ongoing geopolitical tensions in the Middle East. Concurrently, gold prices maintained their upward trajectory to trade above $4,100 per ounce as investors continue to manage broad-based inflation risks.

Fixed-income volatility slowed down as the 10-year U.S. Treasury yield settled around 5.09%. The mild stabilization provided a brief window of relief for equity valuations after recent hotter-than-expected inflation data increased the implied probability of stricter Federal Reserve monetary tightening.