Finance

The Federal Reserve's preferred inflation metric, the July personal consumption expenditures price index, arrived marginally higher than economists had anticipated. This persistent price pressure has kept market participants braced for the possibility of another interest rate hike by the central bank later this year.

Crude oil futures tumbled below key resistance levels following a joint navigational framework announcement between Iran and Oman designed to secure safe transit through the Strait of Hormuz. The cooling energy costs successfully pulled Treasury yields down from recent multiyear highs, providing substantial breathing room to broader financial markets.

Bitcoin prices hovered near the $79,000 threshold after briefly jumping past the key psychological barrier of $80,000. The digital asset market is adjusting to massive profit-taking by long-term holders alongside a newly launched U.S. Treasury sanctions campaign aimed at isolating international cryptocurrency payment corridors.