Finance

Government bond yields moderated from their recent 24-year peaks following the cooler employment metrics. The 10-year Treasury yield cooled toward 5.23% as money markets dramatically scaled back the priced probability of a Federal Reserve rate hike later this month.

West Texas Intermediate and Brent crude futures ticked downward at the end of the week after the G7 nations agreed to release 100 million barrels of emergency diesel and crude reserves over the next four months. The coordinated intervention was proposed to mitigate soaring fuel costs and offset broader supply threats stemming from heightened geopolitical tensions.

Solid corporate performance continues to provide a tailwind for the equities market, particularly in artificial intelligence infrastructure. Micron Technology provided a major boost to broader chip stocks after posting stellar fourth-quarter financial results driven by aggressive data center storage demands.