Market Highlights

A report underscoring economic resilience and cooling inflationary pressures drove stocks higher at a time when the war in the Middle East clouds the growth outlook. Bitcoin topped $73,000. Oil whipsawed. Equities rose as data showed the US service economy expanded at the fastest pace since mid-2022 while a price index hit an almost one-year low. A megacap rally lifted the market, with the Nasdaq 100 up 1.5%. In late hours, Broadcom Inc.’s outlook underwhelmed investors, but the firmannounced plans to buy back as much as $10 billion in shares through the end 2026 A global equity rebound that saw Asian shares rise for the firsttime since the Iran war began looks set to falter going into Europe as Middle-East tensions rise and stresses mount in energy markets.