Finance

The fixed-income market provided a tailwind for equities as the 10-year U.S. Treasury yield pulled back slightly from a 24-year high. This moderation in borrowing costs helped alleviate immediate inflation and interest rate concerns, allowing market participants to shift focus toward upcoming third-quarter corporate earnings reports.

Constellation Energy shares experienced notable gains following the announcement of a long-term power delivery agreement with tech giant Google. Additionally, positive quarterly results from companies like Lamb Weston fueled optimism that future corporate profits could remain robust despite widespread macroeconomic hurdles.

Newly released economic data indicated that the U.S. trade deficit expanded by 13.7%. This widening gap was primarily driven by imported goods reaching record levels, reflecting resilient consumer demand and corporate supply behaviors inside the domestic economy.