– Commodities rose on Middle East tension. US equities gained, while most intl markets fell, REITs declined, and Treasuries slipped as yields rose.
– AI-led tech drove gains – semis led while defensives lagged. Breadth narrowed as fewer stocks participated in the advance.
– AI-linked Asia outperformed, but global breadth was weak – Europe, EM, and commodity exporters broadly declined.
– Yields rose on “higher-for-longer” Fed tone. Oil gained on geopolitics, gold fell, and the dollar firmed on rate expectations.

– US equities broke out to new highs, led by a surge in tech; international stocks followed, Treasuries and REITs gained, while oil fell sharply as geopolitical risk eased.
– Tech, discretionary and communication led – energy lagged and utilities slipped as oil fell, rates eased, and AI/earnings favored cyclicals.
– EM beat developed – South Korea led on chip strength, Europe and Japan gained on peace hopes, and India rose more modestly.
– Treasuries, credit, high yield and munis rose – euro-area bonds and EM debt firmed. Oil fell, gold and silver rose, and the dollar eased.