Finance

U.S. Treasury yields pulled back slightly from multi-decade peaks, providing a supportive backdrop for equities as the benchmark 10-year note dipped to around 5.28%. Simultaneously, crude oil prices stabilized as supply anxieties were temporarily alleviated by an emergency diesel stockpile release from G7 nations alongside resilient Middle Eastern exports.

Shares of Constellation Energy jumped following reports of a multi-billion dollar clean energy agreement with Alphabet to supply nuclear power for artificial intelligence data centers. Meanwhile, chip designer Marvell Technology saw its stock surge after upwardly revising its future revenue guidance during its Investor Day event.

New macroeconomic data revealed that the U.S. trade deficit expanded substantially to reach $105.6 billion in August. Driven by a surge in imports hitting record levels, the widening deficit came in notably higher than the $102 billion consensus estimate previously anticipated by Wall Street economists.