Finance

A drop in global energy benchmarks provided much-needed relief to equity investors, with Brent oil sliding below $98 a barrel. The sudden pullback in crude prices helped curb the upward momentum of the benchmark 10-year Treasury note yield, which had briefly threatened its highest level since 2007 by touching 5.20%. Lower energy costs provided breathing room for expensive growth equities that had previously faced steep pressure from rising borrowing costs.

Digital assets like Bitcoin and Ethereum sustained healthy weekly advances of approximately 10% despite experiencing a brief retreat from their multi-month peaks. Trading prices for Bitcoin hovered around $84,000 as the broader token ecosystem remained resilient against a recent major exchange hack. At the same time, industry sentiment is turning pessimistic regarding the near-term fate of the Clarity Act, with market participants anticipating the critical crypto regulation framework will stall in the Senate.

The final consumer sentiment reading from the University of Michigan landed at 48.1, marking a decline from August's level of 51.7. Even though the metric slightly outpaced preliminary estimates, persistent high gasoline prices over the last several months continue to sour the broader American economic outlook. The data also indicated an uptick in long-term inflation expectations, a development that is closely scrutinized by Federal Reserve officials considering future policy adjustments.