U.S. stocks rallied broadly, while the 10-year Treasury yield fell to 4.63%. Lower oil prices and expectations of Treasury bond purchases provided support, while buying spread across technology stocks on optimism over Nvidia's earnings.
U.S. stocks all closed higher on the 25th local time, with gains in the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite. Buying spread across the broader market, while the VIX fell and investor sentiment stabilized.
In global interest-rate markets, the U.S. 10-year Treasury yield fell 7 basis points from the previous day to around 4.63%. Lower interest rates reduce companies' financing costs and may provide a particular boost to technology stocks.
Oil prices also fell, with Brent ending down 3.9% at $88.58 and WTI down 4.6% at $81.08. Expectations that easing tensions in the Middle East and the outlook for demand would reduce inflationary pressures also influenced the market.
Investors' focus shifted to Nvidia's earnings announcement scheduled for the 26th, and the company's stock rose about 2%, recouping losses from the previous week's decline. Other semiconductor stocks also rose broadly, supported by expectations of expanding demand related to AI.