Tech Stocks Surge Amid Global Market Rally

Global equity indexes saw an upswing on Thursday, driven by a robust demand for technology stocks. Meanwhile, the oil market experienced a slight dip attributed to increased activity in the Strait of Hormuz, even as investors were on edge, awaiting developments from a pivotal U.S.-China summit.

U.S. 10-year Treasury yields moved back from their recent highs, finding traction owing to declining oil prices and strategic buying at key technical thresholds. Reports from Iran suggested a smoother transit for vessels, contributing to the stabilization of oil prices.

In currencies, the dollar rose following economic data that matched expectations, hinting at stable consumption patterns. Political tumult in the UK created headwinds for the British pound, amidst speculation of a leadership challenge to Prime Minister Keir Starmer.

(With inputs from agencies.)