Finance

Global oil prices pulled back slightly after the Group of Seven nations announced a coordinated plan to inject 100 million barrels of crude and diesel stockpiles over the next four months. The supply move, heavily backed by a deal between European leaders and the Trump administration, seeks to curb rising energy costs. Despite the intervention, ongoing regional flare-ups in the Middle East kept Brent futures anchored above the $102 threshold while West Texas Intermediate settled lower at $91.11.

Digital assets experienced sharp upward momentum in tandem with traditional markets following the release of the U.S. economic data. Bitcoin rose past the $85,000 threshold, triggering over $110 million in short-position liquidations across derivatives markets in a matter of minutes. Ethereum also shared in the positive momentum by reclaiming the $2,700 level, while major banking institutions upgraded their long-term price targets for the leading cryptocurrency.

Despite the broader market surge, shares of Nike slid 3.6% after the sportswear retailer issued a downbeat fiscal outlook. The company warned that its sales are projected to fall sharper than Wall Street consensus estimates had previously indicated. Analysts noted that the downward guidance reflects persistent consumer headwinds, pushing the multinational firm toward planned labor cuts to preserve margins.