Finance

Energy markets experienced a relief rally following reports that the U.S. and Iran are nearing an interim peace agreement. Brent crude oil prices dropped more than 5% on Friday to approximately $89.94 per barrel as the 'war premium' began to fade from global benchmarks. This downward trend in energy costs helped ease broader inflation concerns and bolstered equity markets throughout the final trading session of the week.

Economists overwhelmingly expect the Federal Reserve to hold the federal funds rate steady at the current 3.50%-3.75% range for the remainder of the year. Market data indicates a near 99% probability of no change at the upcoming June meeting, as persistent inflation and geopolitical risks complicate the case for rate cuts. This cautious stance by policymakers under Chairman Kevin Warsh has shifted the consensus for potential easing into early 2027.

In a unique convergence of traditional and digital markets, SpaceX perpetual futures became the second-most traded product on Binance following the company's Nasdaq listing. The exchange reported over $9 billion in cumulative trading volume for SpaceX-related instruments, capturing a 60% market share across centralized and decentralized venues. This surge in activity underscores the intense demand from retail and crypto-native investors for exposure to major space and AI-related infrastructure.