Good morning. I’m Rupert Steiner, Barron’s London Bureau Chief. You might see my name pop up in your inbox occasionally to help you make sense of market moves when Callum Keown is otherwise engaged. So let’s dive in!

On day two of what is typically the gloomiest month of the year for markets, there are slim pickings to lift the spirits. All three major indexes are on track to open lower today and, as my colleague George Glover explains, the turmoil surrounding soaring bond yields hasn’t eased. Another jump in oil prices after fresh strikes in the Middle East hasn’t helped.

But there were two shining beacons overnight lighting a more positive path for markets. Dell stock jumped after earnings came in well ahead of expectations—and it’s not the only tech stock having a good morning, coding platform GitLab was up 21% at time of writing and here’s why.

Watch out later for Broadcom earnings after the bell. The stock has had a rough three months—falling 22% since disappointing on guidance for chip sales in its last update—and remains a key barometer of the AI trade that has driven markets for most of this year.

Have a great day.

P.S. Feel free to get in touch with any thoughts and comments.

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