Finance

Crude oil benchmarks fell as West Texas Intermediate dropped to near $92 a barrel and Brent futures dipped below the $100 mark. The downturn follows emerging reports that U.S. and Iranian negotiators are holding discussions in New York to establish a phased deal. Investors are optimistic that a diplomatic resolution could reopen the critical Strait of Hormuz waterway and ease global supply constraints.

The 10-year U.S. Treasury yield eased slightly to end the week at approximately 5.17%, pulling back from an intra-week spike that approached 2007 highs. Fixed-income markets have experienced massive selloffs fueled by hawkish comments from Federal Reserve officials and a resilient domestic economy. Despite the late-day breather on Friday, borrowing costs remain highly elevated due to persistent long-term inflation expectations.

Shares of Akamai Technologies jumped over 3% to serve as a primary driver of stock market gains following a major corporate announcement. The cloud infrastructure firm finalized an $11.6 billion, multiyear agreement with artificial intelligence startup Anthropic. The deal aims to integrate and support the deployment of Anthropic's Claude chatbot, providing a fresh boost to tech sector sentiment.