Finance

Brent crude oil prices climbed above $103 per barrel, marking a fourth consecutive day of gains as energy markets react to ongoing disruptions in the Strait of Hormuz. Domestic West Texas Intermediate also rose, trading above $92 as traders account for surprise drawdowns in U.S. gasoline and distillate stocks. Analysts indicate that prices may continue to reprice higher if expectations for a May reopening of critical shipping lanes are not met.

The 10-year U.S. Treasury note yield rose to approximately 4.31%, reaching its highest level in over a week. This upward movement is largely driven by rising energy costs and the resulting inflationary pressure, which has led to expectations that the Federal Reserve may maintain elevated interest rates for a longer duration. Meanwhile, bond markets are also closely monitoring the nomination hearings for Fed Chair nominee Kevin Warsh.

Semiconductor and hardware firms like Texas Instruments and Intel are seeing strong momentum, while software companies like ServiceNow face sharp declines following latest financial reports. Although Tesla initially beat earnings expectations, its shares fell as investors reacted to plans for significantly increased capital expenditures focused on AI and manufacturing. This divergence comes as the technology sector leads the S&P 500 in earnings growth revisions for the current year.

The leading cryptocurrency is holding steady in the $78,000 range after briefly touching $79,000, outperforming many altcoins in the current cycle. While the broader digital asset market has seen a slight pullback in correlation with traditional equities, sentiment indexes have reached three-month highs. Institutional demand appears to be stabilizing, with spot Bitcoin ETF flows showing signs of recovery even as volatility remains present.