Finance

Crude oil futures experienced a minor retreat following a public commitment from President Trump to hold off on military actions against Iran ahead of the November midterm elections. Additionally, a newly announced supply arrangement with Russia for diesel helped stabilize international benchmarks, although Brent crude remains elevated above the one-hundred-dollar threshold.

The 10-year US Treasury yield remained pinned close to 5.24% following significant weekly fluctuations that briefly touched a 24-year high. Elevated bond yields persist as consumer data indicates rising long-term expectations for domestic inflation, forcing market participants to anticipate higher interest rates for a longer duration.

The telecommunications sector faced intensive selling pressure after SpaceX finalized a major 800 MHz wireless spectrum deal to launch its own mobile service. The sudden introduction of direct competition from the aerospace company triggered a double-digit drop in T-Mobile shares, alongside parallel pullbacks across rivals like Verizon and AT&T.