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

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

A snapshot of the markets in the initial minutes of trading, derived from a heat map powered by Yahoo Finance AlphaSpace data, reveals that tech stocks (XLK) boomed, with AI chip leaders Intel (INTC) and AMD (AMD) driving the sector higher. Simultaneously, social media giant Meta (META) surged over 5%, and electric vehicle manufacturer Tesla (TSLA) climbed.

Bitcoin (BTC-USD) experienced a more than 5% rise, surpassing the $85,000 threshold, while ether (ETH-USD) also gained approximately 5%. This crypto rally occurred as falling oil prices quelled inflation worries and investors displayed renewed enthusiasm for digital assets. Some other stocks that Yahoo Finance readers are scrutinizing this morning include Strategy (MSTR), Coinbase (COIN), and Critical Mines (CRML).

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