Finance

Oil prices experienced significant fluctuations, with Brent crude settling near $100 per barrel as traders weighed the likelihood of a deal to end the war with Iran. Investors are closely monitoring negotiations for any progress toward reopening the Strait of Hormuz, which remains restricted and continues to fuel global inflation concerns.

The yield on the 10-year U.S. Treasury note rose to 4.393% on May 7, snapping a two-day streak of falling yields. This move reflects a cautious market atmosphere where mixed economic data, including lower-than-expected productivity growth, is being balanced against persistent inflationary pressure.

Arm Holdings shares tumbled 10% on concerns over smartphone demand despite beating earnings expectations, while eyewear retailer Warby Parker saw a 27% surge following blockbuster quarterly results. Conversely, Whirlpool shares dropped more than 12% after the company reported disappointing earnings and a dividend cut.