Tech stocks surge as Meta's Muse AI goes viral, Nasdaq hits intraday peak and oil prices see mixed moves
Shares of Meta Platforms jumped more than 11% after its two‑week‑old Muse AI assistant went viral, marking the company's strongest daily rise since April 2024. The rally lifted other AI‑linked companies, with AMD reaching a market value of US$1 trillion and Intel and Arm Holdings climbing 12.2% and 17% respectively. The Nasdaq Composite recorded an intraday high of 27,212.68 as technology stocks rebounded, while the Dow and S&P 500 posted modest gains.
Reports differ on oil price direction, with one noting a decline tied to expectations of increased Gulf supply and a possible Strait of Hormuz reopening, and another observing a rise of more than 1% in Brent crude futures. U.S. 10‑year Treasury yields inched higher, supporting a stronger dollar against major currencies.
How this was covered
- Left-leaning outlets covered this 12h later
- Right-leaning coverage is the most divided on this story
Why it matters
The moves affect investors’ portfolios, highlight the market impact of AI hype, and influence currency and commodity markets.
How this story developed
- Sep 2 Diesel hits $5.68 per gallon, highest since 2022, as Trump urges price cuts
- Sep 18 Asian equities rose on Friday while the yen slipped, as oil prices fell and investors eyed the Bank of Japan’s upcoming rate hike.
- Sep 18 The Sejm voted to pass the extraordinary‑profits tax on fuel companies.
- Sep 19 Diesel prices reached $5.68 per gallon, the highest figure since 2022.
- Sep 20 The Fed implemented a modest rate increase and a hawkish tone from the new chair.
- Sep 20 Oil benchmarks rose on Monday following a missile and drone attack by Yemen’s Iran-backed Houthis on Saudi Arabia’s capital Riyadh.
- Sep 22 Oil prices fell and AI data demand boosted semiconductor stocks, reversing earlier concerns about oil‑driven market pressure.
- Sep 22 AMD’s market value reached $1 trillion.
- Sep 22 Meta's new Muse AI assistant sparked an 11% jump in its stock, lifting other AI-related shares, while oil prices rose and bond yields nudged higher.
- Sep 24 Iran’s president publicly rejected any surrender to the United States at the UN.
- Sep 25 Refinery output shifts and refinery strikes have created a measurable shortfall in bunker‑fuel supply for the third quarter.
- Sep 25 Bond yields climbed back above 5% and oil prices rebounded, pushing Wall Street lower.
- Sep 25 US stock futures rose on Friday as Treasury yields slipped and Brent crude fell to $98.83 a barrel.
Related stories
25 in this thread