Finance

Energy prices surged and Treasury yields climbed as ongoing conflict involving Iran led to the continued closure of the Strait of Hormuz. Markets reacted to the rejection of recent peace proposals, which has stoked fears of persistent inflation and reduced the likelihood of Federal Reserve interest rate cuts in the near term.

The U.S. economy demonstrated unexpected strength with April job additions significantly exceeding consensus estimates. While the unemployment rate remained stable at 4.3%, hiring gains were concentrated in service-oriented sectors such as healthcare and retail, suggesting a robust economic foundation even as businesses navigate elevated borrowing costs.

Cryptocurrency markets showed strength at the start of the week, with Bitcoin trading above $81,000 following its strongest Monday opening in several months. Institutional interest remains high, evidenced by significant capital inflows into digital asset funds and continued, though decelerating, corporate accumulation of major tokens.