Finance

Crude prices stabilized slightly after President Trump indicated a pause in potential military strikes on Iran until after the midterm elections and announced a diesel supply agreement with Russia. Despite the brief reprieve, West Texas Intermediate futures remained volatile near $91 a barrel, and Brent crude held firmly above the $100 threshold due to persistent regional ship attacks near the Strait of Hormuz.

The 10-year U.S. Treasury yield settled slightly below 5.25% following extreme volatility that saw it briefly test a 24-year high of nearly 5.37% earlier in the week. Fixed-income markets continue to experience selling pressure as investors adapt to elevated borrowing costs following the Federal Reserve's recent interest rate hike and persistent inflation projections.

A preliminary report from the University of Michigan revealed that domestic consumers have increased their short-term inflation expectations to 4.7%. This rise in cost-of-living concerns has severely weighed on consumer sentiment, particularly among lower-income individuals who are disproportionately squeezed by elevated energy and food prices.