Finance

Energy prices fell sharply as reports emerged that the United States and Iran are nearing a peace agreement to end recent hostilities. Brent crude futures dropped 3.4% to roughly $87 a barrel, easing broader inflationary concerns and supporting gains in major equity averages.

U.S. Treasury yields remained relatively steady at the end of the week, with the 10-year note finishing at approximately 4.48%. While recent labor data was stronger than expected, the potential for a diplomatic resolution in the Middle East has tempered immediate fears of further rate hikes, though many analysts expect the Federal Reserve to remain hawkish.

Bitcoin climbed back above the $63,000 level, benefiting from the general rebound in risk assets following the SpaceX IPO and positive geopolitical signals. Despite these gains, investor sentiment remains defensive, as highlighted by continued outflows from Bitcoin ETFs and an extreme fear reading on the market's sentiment index.