WTI Crude Oil Rises Above $108 for Third Consecutive Day
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Energy was once again the best-performing sector on Wednesday amid the ongoing Middle East tensions, with reports that President Trump is planning to maintain the naval blockade on Iran boosting WTI crude oil for the third consecutive day above $108 per barrel. Geopolitically driven risk-off bias was compounded by a Fed decision that featured multiple FOMC members dissenting with a majority not to include an easing bias in the statement, sending Treasuries sharply lower. The 10-year note yield jumped above 4.4% and the 30-year yield briefly touched 5% for the first time in months. Following the decision, Fed funds futures are once again pricing in a slight possibility of a rate hike by the end of 2026 at over 10%, and the slight possibility of a 25 basis point easing before year-end priced in pre-decision has now been erased.For the second day in a row however, earnings from the tech sector are helping to restore more constructive sentiment. Four Mag-7 companies reported results afterhours; Alphabet is the best performer with a 7% after-hours jump in stock price to record highs above $370 per share despite raising its FY26 CapEx view to $180B-$190B from $175B-$185B. Amazon's post-earnings price action saw a slight decline, but the stock flipped back into positive territory as CEO Jassy expressed confidence in the ROI of the company's accelerated CapEx and also touted the rapid growth of the company's chips business. Microsoft shares initially jumped to $445 on Q3 earnings beat but paired those gains to trade little changed as the company's Q4 revenue outlook midpoint came in shy of consensus. Meta fared the worst out of the mega-caps, falling over 6% with investors remaining skeptical that the company's investments may not pay off given that its AI initiatives are relatively earlier-stage. Outside the Mag-7, quarterly results from semiconductors remain impressive as Qualcommbeat estimates, with a surge of afterhours buying also driven by comments that the company would begin shipping data center chips to a large hyperscaler within a year.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Viavi Solutionsup 22.7%Impinjup 16.6%TTM Technologiesup 16.6%Qualcommup 13.3%FormFactorup 12.9%PROCEPT BioRoboticsup 12.4%Carvanaup 8.7%FMC Corporationup 7.4%Alphabetup 6.5%O'Reilly Automotiveup 4.2%Chipotleup 3.9%Amazonup 3.1%Cheesecake Factoryup 2.4%DOWN AFTER EARNINGS -Teladocdown 10.9%KLA Corp.down 7.6%Acadia Healthcaredown 6.6%Metadown 6.5%Waystardown 6.1%Equinixdown 5.7%Tenable Holdingsdown 5.7%Forddown 1.4%Matteldown 0.5%Microsoftdown 0.1%
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Analyst Views on VIAV
Wall Street analysts forecast VIAV stock price to fall
9 Analyst Rating
8 Buy
1 Hold
0 Sell
Strong Buy
Current: 48.490
Low
17.00
Averages
19.56
High
23.00
Current: 48.490
Low
17.00
Averages
19.56
High
23.00
About VIAV
Viavi Solutions Inc. is a global provider of network test, monitoring and assurance solutions for telecommunications, cloud, enterprises, first responders, military, aerospace and railway. The Company's segments include Network and Service Enablement (NSE) and Optical Security and Performance Products (OSP). The NSE segment provides an integrated portfolio of testing solutions that access the network to perform build-out and maintenance tasks. Its solutions address lab and production environments, network management, service assurance and artificial intelligence for IT operations (AIOps) for any kind of network, including wireless, wireline, cloud, satellite, public safety, military and critical infrastructure. The OSP segment leverages its core optical coating technologies and volume manufacturing capability to design, manufacture and sell technologies for the anti-counterfeiting, three-dimensional (3D) sensing, government and aerospace, automotive and industrial markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Earnings Growth Expectations: Small-cap semiconductor companies are among the top performers, expected to see nearly 40% profit growth in Q2, reflecting massive capital spending on data centers and AI-related infrastructure boosting chip demand, although the broader small-cap tech sector is projected to grow earnings by only 7%.
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- Bubble Risk Warning: Despite the strong performance of small-cap tech stocks, analysts caution that speculative trading may be driving prices higher, and rising global government bond yields could diminish the appeal of smaller tech companies due to their higher sensitivity to economic fluctuations.
See More
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- Micron's Surge: Micron Technology's stock soared, pushing its market capitalization above $1 trillion for the first time, signifying its leadership position in the semiconductor industry and likely attracting more investor interest in its future growth potential.
- Buy Signals Emerge: Companies like Caterpillar and Viavi flashed buy signals, indicating optimistic market sentiment towards their prospects, which could lead to stock price increases and bolster investor confidence.
- Investor Sentiment Boost: As major indices rise, investor sentiment has significantly improved, potentially resulting in increased capital inflows into the stock market, further driving economic recovery and corporate profit growth.
See More
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- Market Milestone: The S&P 500, Nasdaq, and Russell 2000 indices all reached new historical highs, reflecting strong investor confidence in tech stocks amid economic recovery and corporate earnings growth, which may attract more investors into the market.
- Micron's Surge: Micron Technology's stock price soared, pushing its market capitalization above $1 trillion for the first time, marking the company's leadership position in the semiconductor industry and likely increasing investor focus and capital inflow into tech stocks.
- Buy Signals Emerge: Companies like Caterpillar and Viavi flashed buy signals, indicating optimistic sentiment towards these stocks, which may attract both short-term traders and long-term investors, potentially driving their stock prices higher.
- Investor Sentiment Optimistic: With the rise of major indices, investor sentiment is generally optimistic, which could lead to increased capital inflow into the stock market, further driving economic recovery and corporate investment, creating a virtuous cycle.
See More
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- Agreement Progress: President Trump stated that an interim agreement regarding the Strait of Hormuz is close to being finalized, although negotiations are still ongoing, which may alleviate market concerns over geopolitical tensions in the region.
- Geopolitical Impact: Should the agreement be reached, it would help ensure the safety of shipping through the Strait of Hormuz, thereby stabilizing global oil supply chains and reducing the risk of price volatility.
- Negotiation Dynamics: Trump's remarks indicate an active U.S. government stance in addressing tensions in the Middle East, which could influence international investor confidence in the region.
- Market Reaction Expectations: The market may respond positively to this news, with investors closely monitoring subsequent negotiation developments to assess potential impacts on the energy market.
See More
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- Interim Deal Prospects: President Trump stated that the U.S. and Iran are nearing an interim deal aimed at reopening the Strait of Hormuz, a strategic waterway crucial for global oil transport, which could alleviate current geopolitical tensions.
- Economic Impact Assessment: If the deal is reached, it is expected to stabilize international oil prices, as the Strait of Hormuz accounts for approximately 20% of global oil transport, and restoring passage would aid in the recovery and growth of the global energy market.
- Diplomatic Efforts Intensified: This statement indicates that U.S. diplomatic efforts in the Middle East are making progress, potentially paving the way for more comprehensive negotiations in the future, thereby improving U.S.-Iran relations and reducing conflict risks.
- Regional Security Considerations: The achievement of an interim deal would not only help ensure navigation safety in the Strait but could also influence the security situation of neighboring countries, prompting all parties to reassess their military deployments and strategic collaborations.
See More
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- Market Rebound: The stock market experienced solid weekly gains driven by optimism surrounding the Iran deal, indicating investor confidence in future economic recovery, which may attract more capital inflows into the market.
- Tesla Buy Point Approaching: Tesla's stock is nearing a buy point, suggesting investor interest in its growth potential, which could lead to a short-term price increase and enhance overall market vitality.
- Strong AI Stock Performance: ASML and several AI-related stocks are performing well, reflecting ongoing market enthusiasm for technology stocks, potentially prompting more investors to focus on and invest in the tech sector.
- Weekend Negotiations Ongoing: Talks regarding the Iran deal continued over the weekend, and if a consensus is reached, it could further boost market sentiment and drive stock performance in related sectors, particularly energy and technology.
See More
