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Markets Split as Ceasefire Hopes Lower Oil While Broadcom Shock Weighs on Tech

Fragile ceasefire reports eased oil risk and left investors torn between gains in cyclical stocks and heavy losses in chip and AI names ahead of the U.S. payroll report.

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Overview

  • The reported ceasefire between Israel and Lebanon on Thursday pushed Brent and WTI futures down by about 3% and helped European equity indexes recover part of recent losses.
  • Broadcom’s weaker‑than‑expected quarter and downbeat chip demand guidance triggered a sharp selloff in semiconductors and AI‑linked stocks, dragging U.S. and Asian tech indexes lower.
  • The Dow Jones hit a closing record as health and financial stocks rallied, while the S&P 500 and Nasdaq underperformed because of the technology slump.
  • Asian markets fell, with South Korea’s Kospi plunging sharply, as investors booked gains in AI winners and grew cautious after Hezbollah rejected parts of the ceasefire and Iran reported no progress with U.S. talks.
  • Traders are positioned for the U.S. May payroll release, which could change expectations for Federal Reserve tightening and influence Treasury yields, the dollar, and the next market direction.