US stocks close higher as tech leads the rallyNew Zealand CPI preview: Q3 inflation seen easing to 3.8% ahead of likely RBNZ hikeUS State Department is to prepared to issue a order departure at US embassies in the GulfBitcoin shows some buying life as risk-on flows return and push the digital currency higherUS treasury sells $13 billion of 20 year bonds at a high yield of 5.469%European stocks close higher, but French yields hit their highest since 2002Crude oil inventories show a draw of -3.060M versus estimate of -0.82 million drawdownUS stocks open higher as earnings and AI demand take center stageCrude oil futures reacted to the news headlines keeps traders focused on the technicalsMorning Kickstart: Dollar mixed as oil swings on conflicting US-Iran headlinesinvestingLive European news wrap: Markets remain cautiously optimisticTechnology shares and Bitcoin advance, the dollar slips against commodity currencies, and oil remains sensitive to competing headlines on diplomacy and renewed hostilities.U.S. stocks moved higher Wednesday, with technology leading the advance as stronger AI demand gave buyers something to lean against. The Nasdaq outperformed, while Bitcoin also attracted buying. However, the gains were less convincing in small caps, and Treasury yields delivered a mixed message.The Middle East remained the wildcard. Hopes for progress toward an agreement competed with concerns about renewed hostilities. Oil traded in both directions before showing a modest decline in the late-session snapshot. Traders are still waiting for something concrete that changes the supply outlook.Foreign exchange: Dollar mixed, with commodity currencies leadingThe dollar was mixed in late trading. Its largest decline came against the Australian dollar, while its strongest performance was a modest gain against the euro.AUDUSD rose 0.41% to 0.7031, while NZDUSD advanced 0.30% to 0.5701. Sterling also edged higher, with GBPUSD up 0.10% at 1.3392. Those moves were consistent with the more constructive tone in stocks and other risk-sensitive assets.Elsewhere, EURUSD slipped 0.03% to 1.1233, and USDJPY edged up 0.02% to 158.19. USDCHF fell 0.04% to 0.8243, while USDCAD declined 0.06% to 1.4045.The message? There was some dollar selling, but it was concentrated rather than broad-based.Treasuries: Shorter yields rise while the long end easesThe late-session Treasury snapshot showed:2-year: 4.8039%, +1.69 basis points.5-year: 4.9470%, +1.30 basis points.10-year: 5.1190%, +0.20 basis points.30-year: 5.4122%, −1.28 basis points.That flattened the curve, with shorter yields rising while the long bond attracted buying. Stocks were able to advance, but the bond market was hardly delivering a broad decline in borrowing costs.The Treasury’s $13 billion bond auction produced mixed demand. Pricing required a concession, while stronger overall bidding and direct participation provided an offset. It was an acceptable auction rather than a strong endorsement from buyers.U.S. stocks: Technology takes the leadThe major US stock indices advanced with the tech heavy NASDAQ indices leading the way:Dow industrial average: 52,862.30, +361.06 points or +0.69%.S&P 500: 7,757.72, +45.15 points or +0.59%.Nasdaq Composite: 26,702.86, +278.04 points or +1.05%.Russell 2000: 2,781.03, +4.51 points or +0.16%.Nasdaq 100: 29,822.52, +332.23 points or +1.13%.Technology leadership was clear. Small caps participated, but their smaller gain showed that enthusiasm was uneven.Major movers: AI infrastructure shines; Netflix strugglesSuper Micro Computer rose 9.55% to $35.57 after raising its preliminary quarterly revenue outlook on stronger demand for AI platforms. Its new revenue range of $18.5 billion–$19.5 billion compared with $14.5 billion–$15.5 billion previously. The company also lifted its gross-margin outlook, giving investors an improvement in both sales and profitability expectations.The buying extended across the AI infrastructure theme. Dell gained 5.27%, Vertiv rose 4.26%, and GE Vernova advanced 4.03%. Software and cybersecurity also participated, with Datadog up 6.50%, CrowdStrike gaining 5.26%, and Palantir rising 4.72%.Netflix moved the other way, falling 5.31% to $65.05. Its earnings beat was overshadowed by weaker fourth-quarter guidance and a reduced advertising revenue outlook. As outlined in the morning stock-market post, investors were focused on what comes next.Other notable declines included AT&T, down 6.45%; Whirlpool, down 5.35%; and Chipotle, down 5.26%. The broader indices were higher, but there were still some sizable losses beneath the surface.After the close, number of companies released including Meta, Tesla, IBM, and Lam Research:Meta (META): BEAT on EPS excluding the litigation charge and revenue. Diluted EPS excluding the charge would have been $7.40 ($3.83 reported + $3.57), versus $6.67 expected. Reported EPS of $3.83 MISSED expectations. Revenue of $64.6 billion topped $63.31 billion expected. Shares are up 4.06% in after-hours tradingIBM (IBM): BEAT on operating EPS and revenue. Operating EPS of $2.95 exceeded $2.86 expected. Revenue of $17.1 billion topped $16.81 billion expected. Reaffirmed full-year revenue guidance and raised its full-year free-cash-flow outlook. Shares are up 4.6% in after-hours tradingLam Research (LRCX): BEAT on adjusted EPS and revenue. Adjusted EPS of $2.20 exceeded $2.18 expected. Revenue of $8.22 billion topped $8.13 billion expected. Despite the beat, shares are down by -6.0%SAP (SAP): BEAT on revenue and adjusted operating profit. Revenue of €10.3 billion exceeded €10.1 billion expected. Adjusted operating profit of €3.0 billion topped €2.93 billion expected. Full-year adjusted operating profit guidance of €11.8–€12.2 billion was above €11.7 billion expected. There is are trading up 4.0% in after-hours.CSX (CSX): BEAT on EPS and revenue. EPS of $0.57 exceeded $0.53 expected. Revenue of $4.02 billion topped $3.96 billion expected. Shares are trading up 4.4 fall 4.44% in after-hours tradingTesla (TSLA): BEAT on adjusted EPS; MISSED on revenue. Adjusted EPS of $0.48 exceeded $0.45 expected. Revenue of $28.0 billion fell short of $28.1 billion expected. Shares are trading up 1.24% in after-hours tradingTexas Instruments (TXN): BEAT on EPS and revenue. EPS of $2.62 exceeded $2.42 expected. Revenue of $6.06 billion topped $5.92 billion expected. Next-quarter revenue guidance of $5.8–$6.3 billion was above $5.75 billion expected, even at the low end. Shares are trading up 0.65%.Europe: Stocks rise, but France remains a concernEuropean equities finished higher:Germany’s DAX: 25,647.10, +342.67 points or +1.35%.France’s CAC: 7,921.69, +83.19 points or +1.06%.UK’s FTSE 100: 10,752.87, +19.88 points or +0.19%.Spain’s IBEX: 19,323.50, +231.10 points or +1.21%.Italy’s FTSE MIB: 49,643.68, +572.32 points or +1.17%.The European close report highlighted renewed prospects for three-way Russia–Ukraine talks. That keeps a possible path toward peace in focus for energy markets, although talks still need to produce results. France remained a warning sign, with yields reaching their highest levels since 2002 despite the equity advance.Oil and the Middle East: The risk has not gone awayCrude oil was trading at $97.59 in the supplied snapshot, down $0.23 or 0.24%. The modest net change concealed another volatile session.An important North American headline was InvestingLive’s report that the State Department was preparing ordered departures at U.S. embassies in the Gulf, citing possible renewed hostilities, particularly involving Iran-aligned militias in Yemen. It was a report of preparations, rather than confirmation that departures had occurred. For oil traders, it reinforced the continuing regional risk.That concern competed with diplomatic hopes. Earlier coverage described a compromise proposal from Qatar and Pakistan, followed by pushback against suggestions that a U.S.–Iran agreement was imminent. The distinction remains important: negotiations can reduce some of oil’s risk premium, but an agreement that improves shipping and supply would carry much more weight.The weekly inventory report also offered a mixed picture. Crude stocks fell 3.060 million barrels against an expected 0.820 million draw. Gasoline inventories fell more than expected, but distillates unexpectedly increased. The crude and gasoline draws provided support, although inventory changes alone do not establish stronger demand.Gold and silver: Modest moves in opposite directionsSpot gold edged up $8.89, or 0.22%, to $4,134.35. A softer dollar against several currencies and lower long-bond yields provided some support, although higher shorter-term yields limited the consistency of that backdrop.Silver slipped $0.115, or 0.20%, to $57.864. Copper also eased, down 0.46% at $6.5730. The metals were not delivering a uniform signal of stronger industrial demand despite the equity-market gains.Bitcoin: Buyers return with risk appetiteBitcoin rose $1,507, or 1.82%, to $84,543. Strategy shares gained 7.54%, reflecting the stronger tone in crypto-related trading.Bitcoin’s advance alongside technology shares was consistent with improved risk appetite. For this session, buyers were willing to add exposure despite the unresolved geopolitical backdrop. See technical analysis post HERE.The next session carries forward three questions: Can AI-related buying spread more broadly? Can diplomacy produce a concrete improvement in the Middle East? And can Treasury yields ease enough to give the equity recovery additional support? Buyers made progress Wednesday. Now they need follow-through. This article was written by Greg Michalowski at investinglive.com.