Finance

A tentative truce between the U.S. and Iran regarding shipping in the Strait of Hormuz has improved market sentiment and lowered perceived volatility. While this easing of tensions led to a slight increase in oil prices, investors largely adopted a risk-on stance, characterized by buying activity in mega-cap technology and semiconductor names.

Comcast shares experienced a notable surge after the company announced plans to spin off its media and cable television assets into a separate public entity. Additionally, market activity was heightened by the semi-annual Russell Index reconstitution, which triggered substantial rebalancing volume across thousands of U.S. companies.

U.S. Treasury yields held relatively steady as investors calibrated their expectations for upcoming Federal Reserve policy. While the 10-year yield remained near 4.38%, the 2-year yield saw a modest increase to 4.11%, ending a four-day streak of declines as market participants prepared for the release of critical employment data later in the week.