Finance

Energy prices fell noticeably as rumors and diplomatic updates pointed to potential agreements between U.S. and Iranian negotiators. Hopes that negotiations could resolve ongoing conflicts and reopen the critical Strait of Hormuz pathway drove West Texas Intermediate crude futures down over 2% to settle near $92 per barrel. International benchmark Brent crude similarly registered distinct declines, sliding below $98 a barrel.

Extreme volatility shook the fixed income market as the 10-year Treasury yield temporarily surged to levels not seen since 2007, while the 30-year yield reached its highest point since 2004. Although the global bond selloff took a breather late in the week, easing slightly following developments in geopolitical discussions, the broader multi-day jump in yields continued to ripple across financial asset classes.

Technology sector equities were heavily supported by Meta Platforms, which achieved an approximate 13% gain over the course of the week. Investor enthusiasm was heavily driven by optimism surrounding the digital giant's release of its newest artificial intelligence agent, named Muse. The tech-heavy sector expansion allowed the Nasdaq Composite to outpace other broad metrics with a 2.1% weekly increase.