Finance

Reports of advancing discussions between Washington and Tehran to potentially reopen the Strait of Hormuz triggered a drop in energy commodities, pushing Brent crude back under the $100 per barrel mark. This decline in oil prices gave a crucial breather to the broader financial ecosystem, helping to pause an intense global selloff in government bonds that had earlier propelled the 10-year Treasury yield toward 19-year highs.

Fresh economic data from the University of Michigan revealed that domestic consumer confidence has dropped to its lowest point in four months. The report underscores persistent anxieties regarding high prices, signaling that underlying inflationary threats remain a central concern for consumers and may complicate the Federal Reserve's future interest rate paths.

Technology equities helped lead the week's upward movement, heavily bolstered by ongoing enthusiasm surrounding artificial intelligence advancements. Highlighting individual corporate success, Akamai Technologies saw its shares surge following the announcement of a major multi-year collaboration agreement with AI developer Anthropic.