Finance

Crude oil benchmarks experienced significant volatility as traders reacted to conflicting reports regarding U.S. and Iran negotiations. Brent crude briefly surged toward $109 per barrel due to concerns over the continued closure of the Strait of Hormuz before retreating below $103 as optimism for a diplomatic breakthrough resurfaced. These price shifts have directly impacted global inflation expectations and the trajectory of U.S. Treasury yields.

Despite reporting better-than-expected first-quarter results and positive revenue guidance, Nvidia's shares fell nearly 2%, leading to a mixed performance across the technology sector. Investors appear to be rotating away from mega-cap chipmakers toward other emerging opportunities, such as quantum computing and upcoming aerospace public offerings. Meanwhile, other semiconductor stocks like Intel and AMD saw significant gains as yields retreated, providing some relief to high-growth companies.

The 10-year Treasury yield cooled slightly to approximately 4.57% after recently touching its highest levels since early 2025. Bond markets remain sensitive to persistent inflation fears and the potential for a 'higher-for-longer' interest rate environment, with some analysts pricing in zero rate cuts for the remainder of 2026. This stabilization in yields late in the week provided a brief window of relief for equities and sensitive asset classes like cryptocurrency.