Finance

Energy commodities climbed amid evolving developments in the Middle East and ongoing negotiations regarding the Strait of Hormuz. Brent crude futures jumped nearly 4% to settle around $82.49 a barrel, while U.S. West Texas Intermediate futures gained over 2.7%. The surge in oil prices added pressure to risk assets and heightened cautious behavior across Wall Street.

Shares of the rocket manufacturer rose 6.1% despite the conclusion of a post-IPO lockup period that made more than 900 million employee and early investor shares available for sale. While some market participants anticipated downward volatility, options trading indicated bullish sentiments from institutional players. The equity proved resilient, showing technical signs that a price bottom may be forming.

Bitcoin and Ethereum traded relatively flat, with Bitcoin hovering near the $64,000 range and lagging broader monthly gains seen in equities. Digital asset momentum was tempered as the U.S. Senate delayed its vote on the Crypto Clarity Act until September, fueling institutional hesitation. Despite the legislative delay, large investors and exchange-traded funds net-accumulated digital assets, providing a strong cushion against deeper price corrections.