Brent crude rebounded above $101 a barrel on Wednesday after a rise in attacks near the Strait of Hormuz and as a storm threatened the U.S. Gulf Coast. West Texas Intermediate crude hovered close to $90 a barrel. Average gasoline prices hit $4.36 per gallon versus $3.12 a year ago, while diesel averaged $6.30 per gallon.

Marvell raised its FY28 revenue outlook to about $20 billion at its investor day, implying roughly 67% year-over-year growth. The new target is above the $18 billion guidance it issued in August and ahead of Wall Street’s $18.2 billion expectation. CEO Matt Murphy presented the forecast at the event, sending the stock up about 8% intraday. Marvell joined the S&P 500 in June and its shares are up more than 240% year to date.

Cerebras shares rose 9% on Monday after OpenAI CEO Sam Altman said the AI chipmaker is a “close partner” and that the two have a “deep engagement” on speed. His remarks followed discussion of OpenAI’s GPT-5.6 Sol in Ultrafast mode, which runs on Cerebras chips. The stock has been under pressure since midAugust after the company reported earnings and guidance that fell short of expectations.

Micron posted a strong fourth quarter, with earnings per share jumping 1,002% year over year to $33.42 and revenue rising 379% to $54.23 billion. CEO Sanjay Mehrotra said on the company’s earnings call that “physical AI,” particularly self-driving cars and humanoid robots, could significantly lift demand for memory and storage by the end of this decade. He added that level 4 and higher autonomous vehicles typically require more than 200 gigabytes of memory and multiple terabytes of storage.

Nike reported another weak quarter, with Nike Brand sales down 4%, online sales down 13%, China sales down 26% and Converse sales down 28%. The company said it expects fiscal 2027 revenue to fall by a high single-digit percentage. Nike guided earnings per share of $1.15 to $1.35, below the market’s $1.66 expectation, and indicated another round of layoffs.

A leaked Anthropic IPO prospectus says the company believes U.S. government perceptions could reach beyond direct dealings and affect how customers, partners and other commercial relationships view the business, according to Reuters. The filing says government agency contracts account for less than 1% of annual revenue. It also says Anthropic could list as soon as midNovember at a valuation of up to $2 trillion. President Donald Trump told TIME he discussed regulation requests with CEO Dario Amodei and warned that seeking regulation could allow the government to put a company out of business.

Nike issued a profit warning as its full-year earnings guidance came in well below analyst expectations. The company said revenue in its sportswear business fell by low double digits, Nike Brand sales slipped 4%, online sales dropped 13%, and Converse revenue fell 28%. The update weighed on sportswear peers, sending shares of Lululemon, On, Under Armour and Hoka parent Deckers Outdoor lower.

U.S. stocks reversed early losses on Thursday, with the S&P 500 rebounding from a two-week low to finish modestly higher. Equities were pressured earlier as Treasury yields climbed and the ISM manufacturing PMI pointed to a jump in input prices. Sentiment improved after yields pulled back and Fed Vice Chair Philip Jefferson signaled the central bank could pause before raising rates again. The two-year U.S. Treasury yield posted its biggest one-day drop since August 2025.

Nvidia has authorized a $150 billion share repurchase plan, the largest buyback authorization increase on record, bringing its total authorization to $235 billion. The company is trading at a trailing price-to-earnings ratio of around 30, its lowest valuation in about four years, even as analysts expect earnings per share to almost double this fiscal year, according to Bloomberg-compiled estimates. Nvidia’s market capitalization stands at more than $5.5 trillion, about $500 billion higher than Apple’s.