Finance

Energy markets remain under pressure following reported strikes on commercial vessels near the Strait of Hormuz. Although temporary geopolitical assurances helped ease peak daily prices, Brent crude settled above $104 per barrel. This ongoing volatility continues to fuel broader economic concerns regarding high inflation and persistent energy headwinds.

The bond market saw a slight easing of long-dated yields after a period of intense selling pushed borrowing costs to their highest levels in over two decades. The 10-year Treasury yield rested near 5.24% as investors weighed stubborn inflationary trends against future monetary tightening. Market participants continue to price in high expectations for additional Federal Reserve interest rate hikes before the end of the year.

Technology stocks rebounded from sharp midday losses triggered by lower-than-anticipated revenue assessments for top artificial intelligence firms. Market sentiment was supported by a substantial component supply agreement between Advanced Micro Devices and an AI firm linked to Sam Altman, causing AMD shares to spike over 20%. Conversely, competitor Nvidia experienced slight downward pressure, further illustrating a narrowing and highly selective market breadth within the tech sector.