Finance

July Personal Consumption Expenditures price index data came in slightly higher than anticipated, reminding investors that inflation remains sticky. The reading caused U.S. Treasury yields to edge upward as market participants continue to budget for at least one Federal Reserve interest rate hike by the close of the year. Investors are now heavily focused on an upcoming keynote speech by Fed Chair Kevin Warsh for clearer policy insights.

Crude oil futures fell to a two-week low following reports that Iran and Oman negotiated a temporary commercial route through the strategic Strait of Hormuz. International benchmark Brent crude slipped back to around $86 a barrel, marking a drop of more than 6% over a five-day stretch. While structural shipping flows remain well below historical pre-war levels, the diplomatic progress eased immediate supply disruption anxieties.

Bitcoin prices stabilized just below $79,000 after briefly hitting a three-month high above the $81,000 threshold on Tuesday. The cryptocurrency's aggressive upward movement was initially sparked by an unexpected decision from the U.S. Treasury Department to expand its long-term bond-purchasing strategy. Technical indicators highlight exceptionally strong upside velocity, although some analysts warn the quick run-up has left short-term momentum overextended.