Bonds & Stocks
A rebound in chipmakers lifted stocks as dip buyers emerged amid speculation that the artificial-intelligence trade that has powered the bull market has more room to run. The dollar rose. Oil steadied. The S&P 500 rose 0.5%. The yield on 10-year Treasuries was little changed at 4.48%.
Economy
Saudi Arabia made big reductions to its main crude oil prices for buyers in Asia, selling barrels at a discount for the first time since it embarked on a price war in 2020, as a surge of global supply heightens competition to find buyers. State producer Saudi Aramco will lower Arab Light oil for next month by $11 a barrel to a $1.50 discount over the regional benchmark.
World
A deadly overnight attack on the eve of the NATO summit highlighted Kyiv’s growing vulnerability as shortages of US-made Patriot air defenses become acute and peace talks remain stalled. Eleven people were killed and 60 injured in the overnight strikes on Kyiv that caused destruction in several districts of the city, damaging multiple residential buildings, President Volodymyr Zelenskyy said on X.