Overview
- The Nasdaq closed at a fresh record on Tuesday driven by strong demand for AI products and a rally in semiconductor stocks.
- Reports that Saudi Arabia restarted its East‑West pipeline and that U.S. and Iranian officials held talks helped push oil prices down and eased some inflation concerns.
- Hours after that crude relief, the benchmark 10‑year Treasury yield climbed above 5%, which put pressure on growth and technology shares by raising the cost of future earnings.
- Investors are focusing on the Trump–Xi summit in Washington for signs on trade, AI cooperation, export controls and rare‑earth supplies that could shift the outlook for chips and cloud spending.
- What to watch next are moves in the 10‑year yield, oil flows through the Gulf and any summit statements because those signals will shape Fed expectations, corporate funding costs and the value of high‑growth stocks.