Key facts
- Global equities advanced on softer U.S. inflation and strong bank earnings.
- Oil prices increased due to supply concerns linked to U.S.-Iran hostilities.
- The S&P 500 and Nasdaq rose, while the Dow experienced slight weakness.
- Chip shares rebounded, contributing to the Nasdaq's outperformance.
Global equities experienced a rise, buoyed by U.S. inflation data that proved softer than anticipated and robust earnings reports from banks. Concurrently, oil prices saw an increase, driven by concerns over supply disruptions related to U.S.-Iran hostilities.
U.S. crude oil futures concluded the trading session up by 1.5%, or $1.20, settling at $79.34 a barrel. Brent crude futures also climbed, settling at $84.73 per barrel, marking a 1.7% increase, or $1.43.