Finance

The 10-year Treasury yield climbed near its highest level since 2007, touching 5.20% dynamically over the week as investors braced for the possibility of another Federal Reserve interest rate hike. Although yields cooled slightly late on Friday alongside falling energy costs, the fixed-income environment continues to weigh heavily on equity market valuations.

Crude oil prices saw a cooling period, with Brent crude sliding under $98 per barrel. The drop in energy prices offered much-needed relief to Wall Street, tempering immediate inflation concerns and helping lift stock benchmarks off their lows.

The University of Michigan's consumer sentiment index dropped to 48.1 in September, down from 51.7 in August. Persistent high gasoline costs, which have remained above four dollars a gallon for over two months, continue to dampen the economic outlook for voters across political lines.