Finance

Global oil prices eased slightly after a newly announced deal with Russia to supply diesel to global markets and a confirmation that no military action would occur before the upcoming midterm elections. Despite the short-term respite that pulled West Texas Intermediate down toward $91, international benchmark Brent crude remained elevated above $104 per barrel due to lingering shipping threats near the Strait of Hormuz.

U.S. government bond yields pulled back slightly from their highest marks in 24 years, providing some relief to equity markets. The benchmark 10-year Treasury yield hovered just below 5.25% at Friday's close, down from the peak of nearly 5.37% reached earlier in the week.

A new consumer sentiment report revealed that Americans are raising their expectations for inflation over the next year to 4.7%. The rising cost of living continues to weigh heavily on consumer confidence, particularly among lower-income demographics impacted by geopolitical shocks.