Tech stocks rise, Bitcoin rallied as Treasury yields ease: AlphaCheck

Good morning. On Monday, tech stocks experienced a surge as oil prices declined and yields on long-term bonds decreased. The price of Brent crude futures (BZ=F) dropped to $100 per barrel, alleviating concerns about ongoing inflation. The 10-year Treasury (^TNX) fell to 4.95% after surpassing the 5% mark the previous week.

A quick overview of the markets based on a heat map powered by Yahoo Finance AlphaSpace data revealed that tech stocks (XLK) experienced a rally, with AI chip giants Intel (INTC) and AMD (AMD) leading the charge. In addition, social media giant Meta (META) and electric vehicle manufacturer Tesla (TSLA) also saw significant gains. Bitcoin (BTC-USD) surged more than 5% to surpass $85,000, while Ethereum (ETH-USD) also experienced a notable increase of around 5%.

The cryptocurrency rally occurred as falling oil prices eased inflationary worries, and investors demonstrated renewed interest in digital assets. Some other stocks that are currently being viewed by Yahoo Finance users include Strategy (MSTR), Coinbase (COIN), and Critical Mines (CRML). For the latest stock market news and analysis, including events that influence stock prices, click here.