Finance

The rally in technology shares received a significant boost from Dell Technologies, which saw its stock price surge nearly 33% after delivering profits that exceeded market expectations. Investors cited overwhelming demand for artificial intelligence computing infrastructure as a primary driver, which also supported gains in other major software and semiconductor firms like Oracle and Microsoft.

Bond yields across the U.S. curve eased as reports of a potential 60-day ceasefire agreement between the U.S. and Iran improved market sentiment. The 10-year Treasury yield dropped to approximately 4.45% after reaching a 16-month high of 4.7% earlier in the month, providing relief to investors concerned about persistent inflationary pressures.

Brent crude prices fell by 1.7% to close May at approximately $91 per barrel, marking a sharp monthly decline of nearly 19%. This downward pressure was largely attributed to expectations of a breakthrough in Middle East peace negotiations and the potential reopening of critical shipping lanes in the Strait of Hormuz.