Welcome to Markets Desk, your midday read on what's moving money.
The Federal Reserve's hawkish posture is still echoing through markets. The dollar index climbed to a thirteen-month high Thursday, up nearly one percent, after Wednesday's Fed projections signaled higher rates ahead. Strong jobless claims data added fuel, reinforcing the view that the Fed has room to stay tighter for longer.
That dollar strength is putting pressure on crude. West Texas Intermediate slipped to a three-and-a-half-month low Thursday, compounded by reports of a US-Iran peace framework that could eventually bring more supply back to market. A stronger dollar makes oil more expensive for foreign buyers, which dampens demand expectations and weighs on the front-month contract.
Meanwhile, memory chip stocks are drawing fresh attention from analysts who argue the sector looks historically undervalued despite posting their best annual performance on record. Companies riding AI-driven demand for high-bandwidth memory have seen earnings surge, yet valuations remain compressed relative to the broader tech rally, suggesting the market hasn't fully priced in the structural shift.
That's the tape. Markets Desk, signing off the floor.
