Good afternoon, you're tuned to Markets Desk.
Chipmakers are carrying the broader market higher today, with the S and P five hundred up nearly half a percent and the Nasdaq one hundred outperforming at over one percent gains. Semiconductor strength is doing the heavy lifting, pulling tech into positive territory and giving bulls something to work with heading into the close.
Shifting to energy, crude oil reversed early gains and is now trading down nearly two percent on the session. WTI is giving back ground as traders price in expectations that any military escalation between the United States and Iran will remain contained and limited in scope. The geopolitical risk premium that briefly lifted prices this morning has largely evaporated.
And in the technology space, Meta is pressing its advantage in the artificial intelligence race, releasing Muse Spark one point one, an updated model the company claims outperforms recent offerings from OpenAI, Anthropic, and Google across coding, reasoning, and video tasks. The release comes under the direction of Alexandr Wang and signals Meta is not ceding ground in what has become an intensely competitive frontier.
That's the tape. Markets Desk, signing off the floor.
