Finance

Yields on U.S. government bonds moved higher as investors processed a stronger-than-expected retail sales report for March. The benchmark 10-year Treasury yield rose to roughly 4.30%, reflecting the resilience of the American consumer even amidst significant surges in gasoline prices and geopolitical tensions.

Oil prices fluctuated sharply, with Brent crude trading near $98 a barrel due to the looming expiry of the ceasefire deadline. While UnitedHealth Group boosted the Dow with strong earnings, defense and aerospace firms like GE Aerospace and RTX saw shares slip despite beating quarterly estimates.

During a Senate confirmation hearing, Federal Reserve chair nominee Kevin Warsh adopted a hawkish tone, clarifying that he made no promises regarding interest rate cuts. Senators closely questioned Warsh on his ability to maintain the Fed's independence from political pressure, which contributed to a cautious atmosphere in the fixed-income market.

The cryptocurrency market is facing a period of declining confidence, with digital asset investment products recording their fourth consecutive week of outflows. Approximately $173 million was withdrawn in the most recent week, suggesting that large institutions are actively reducing risk exposure as macroeconomic and regulatory uncertainties persist.

Despite broader market pullbacks, investment in artificial intelligence infrastructure continues to provide a structural buffer for the U.S. economy. Analysts note that a significant portion of projected GDP growth is tied to massive data center expansions and semiconductor demand, which helps offset volatility in traditional energy markets.