Finance

Tech sector anxieties eased after initial reports suggested OpenAI's annualized revenue was severely missing market projections. The volatility subsided when subsequent reports clarified the frontier AI model remains on a solid path, allowing major chipmakers and related software equities to recover lost ground.

The benchmark 10-year Treasury yield settled near 5.24%, remaining at elevated levels not seen in over two decades. Bond fund managers warned that climbing public debt and sustained high energy costs could continue to fuel inflation and potentially push long-term yields even higher.

Oil prices ticked downward following a bilateral agreement to supply the U.S. and global markets with Russian diesel. Despite the brief reprieve that saw Brent crude slip to around $104 a barrel, ongoing geopolitical tensions near the Strait of Hormuz have kept energy costs high enough to strain consumer sentiment.