Finance

Despite cooling labor data, U.S. Treasury yields remained highly elevated at fresh cycle peaks, with the 10-year Treasury note hitting a 24-year high near 5.34%. The 30-year Treasury yield also surged to levels not seen in over two decades, touching 5.64%. The persistent yield climb reflects shifting long-term market expectations regarding inflation and central bank monetary tightening.

The technology-heavy Nasdaq Composite outperformed other indices with a 1.19% gain, heading toward fresh record territories. Hardware giant Nvidia spearheaded the rally, touching a new all-time high following an optimistic analyst note from Morgan Stanley. Positive momentum was further supported by strong quarterly results from memory supplier Micron Technology.

Global energy markets experienced a reprieve as crude oil prices retreated below $103 per barrel. The downward pressure followed an agreement by G7 and European leaders to immediately discharge 100 million barrels of diesel and crude from strategic emergency stockpiles. This coordinated intervention helped mitigate energy inflation fears sparked by lingering geopolitical gridlocks in the Middle East.