Finance

Market momentum stalled as investors grew cautious awaiting a formal response from Iran regarding a proposed U.S. peace framework. While oil prices initially fell on peace deal optimism, they recovered later in the session, with West Texas Intermediate futures settling near $95 a barrel as concerns remained over restricted passage through the Strait of Hormuz.

Corporate results provided a stark contrast across sectors, with data analytics firm Datadog soaring 30% on AI-driven growth while Arm Holdings plummeted 10% due to concerns over smartphone demand. In the consumer space, Warby Parker jumped 27% on strong quarterly results, but Whirlpool fell over 12% following a dividend cut and disappointing earnings.

U.S. Treasury yields climbed from early session lows following reports that the labor market remains healthy, with weekly jobless claims at 200,000. The 10-year yield rose to approximately 4.37%, as persistent economic strength and inflation risks lead markets to expect only one or two interest rate cuts from the Federal Reserve later in 2026.