Finance

U.S. Treasury yields dropped across the board following a softer-than-expected Producer Price Index reading that reinforced signs of easing wholesale inflation. The benchmark 10-year yield fell to approximately 4.55%, and the 2-year note yield, sensitive to Federal Reserve policy expectations, declined more than 4 basis points as traders lowered the probability of further rate hikes this year.

The price of Bitcoin surged above the $65,000 threshold for the first time in nearly a month, driven by a rotation back into risk assets following the positive inflation reports. While the cryptocurrency faces resistance at these higher levels, it has maintained a strong weekly gain of over 4% even as regulatory focus on digital asset frameworks intensifies in Washington.

The energy sector emerged as a top performer within the S&P 500, with nearly 20% of its component stocks reaching new 52-week highs. Despite fluctuating crude oil prices due to ongoing military tensions in the Middle East and concerns over the Strait of Hormuz, the sector remains resilient as investors navigate shifting global supply dynamics and regional instability.