Stocks hit Fresh Records on AI Momentum

Wall Street kicked off the holiday-shortened week with the S&P 500 rising 0.6% to a record close of 7,519.47, driven by a blistering rally in semiconductors after UBS tripled its Micron Technology price target to a Street-high $1,625. The Nasdaq 100 surged 1.8% to a record of its own, while the Dow slipped 0.2% as energy and healthcare names dragged. Brent crude rebounded 3.5% to $99.53 after Monday’s 7% plunge, though WTI fell 2.9% to $93.79 amid mixed signals on U.S.–Iran negotiations. Treasury yields fell broadly — the 10-year declining 7 bps to 4.49% — as inflation concerns eased modestly. Spot gold slipped 1.4% to $4,507.53 as the risk-on mood drew capital away from havens. For Australia, ASX 200 futures are pointing down just 3 points to 8,677, with all eyes on the April CPI print due today and an RBA speech from Carolyn Hewson.