Finance

Energy markets saw a slight moderation after political statements suggested U.S. military strikes on Iran are ruled out before the upcoming midterm elections. Despite this brief relief easing broader stock market tensions, Brent crude remains elevated above $100 a barrel following reports of persistent maritime attacks near the Strait of Hormuz.

Fixed-income markets continue to experience substantial pressure, keeping benchmark 10-year Treasury yields resting near 5.24%. Driven by strong economic data and expectations of continued hawkishness from the Federal Reserve, the WSJ Dollar Index posted its fourth consecutive week of gains.

A preliminary report from the University of Michigan revealed that consumer sentiment is dropping significantly, particularly among lower-income demographics. U.S. consumers adjusted their one-year inflation expectations upward to 4.7%, highlighting the financial strain from elevated cost-of-living metrics.