Finance

Despite strength in chipmakers, software companies like ServiceNow and IBM have experienced sharp selloffs following their latest financial results. Investors are increasingly evaluating the potential threats artificial intelligence poses to traditional software business models, leading to the worst daily performance for several major industry players.

Crude oil futures have softened as market participants anticipate potential peace negotiations between the U.S. and Iran in Pakistan. This development follows a period of heightened volatility and supply concerns related to the Strait of Hormuz, which had recently pushed Brent crude prices above the $100 per barrel threshold.

Precious metals and digital assets are trading in narrow ranges as the broader market awaits further macroeconomic clarity. Gold remains near historical highs at approximately $4,730 per ounce, while Bitcoin has stabilized around $78,300 amid a decline in short-term implied volatility.

Preliminary data for April shows a decline in personal finance assessments as consumers express growing concern over high prices and the impact of regional conflicts. Year-ahead inflation expectations have jumped significantly, reaching levels well above pre-pandemic averages.