Finance

Global energy costs registered notable drops, with benchmarks declining around 2% following a boost in Gulf exports and an emergency diesel release in Europe. While geopolitical tensions and long-term supply concerns remain visible, the short-term drop in energy pricing provided significant relief to market participants.

The 10-year U.S. Treasury yield fell slightly to settle near 5.27% after briefly touching 5.35%, a level unseen since 2002. Despite this slight contraction providing immediate support to equities, overall borrowing costs stay elevated as investors weigh high national debt levels against persistent inflation risks.

Utility and independent power stocks surged dramatically following a major 20-year power agreement between Alphabet's Google and Constellation Energy Corporation. The deal highlights the ever-increasing electricity requirements of commercial artificial intelligence buildouts, fueling gains for firms like Vistra and Talen Energy.