Overview
- Global equity indexes climbed Wednesday, with U.S. benchmarks closing at or near record levels and major Asian bourses jumping after renewed buying in tech stocks.
- Oil slid below about $80 a barrel after mediators signaled progress toward reopening the Strait of Hormuz, which reduced near-term supply risk and relieved inflation pressure for markets.
- Big tech and AI beneficiaries drove gains as strong quarterly results and upbeat guidance from firms such as Amazon, Microsoft and Palantir renewed investor confidence in growth and profits.
- Falling oil helped push 10-year government yields lower and trimmed market odds of a September Fed rate increase, a move reinforced by dovish comments from New York Fed President John Williams.
- Volatility remains high regionally, with South Korea's KOSPI and Pakistan's PSX showing sharp intra‑day swings, and markets will watch confirmation of the Hormuz talks and upcoming central bank moves for signs the rally can be sustained.