Finance

Crude prices ticked lower after a newly disclosed deal for Russia to supply global markets with diesel helped counter ongoing energy disruptions. Despite the mild relief, benchmarks like West Texas Intermediate and Brent crude stayed elevated due to continued tensions and vessel strikes near the Strait of Hormuz.

The 10-year U.S. Treasury yield hovered below 5.25%, cooling down slightly from a multi-decade high reached earlier in the week. However, fixed-income markets remain pressured by recent federal interest rate hikes and rising consumer expectations for long-term inflation.

Major cellular carriers witnessed sharp declines after SpaceX revealed a key low-band spectrum purchase intended to boost its Starlink Mobile network capability inside buildings. The competitive pressure from the satellite firm heavily impacted traditional telecom giants, while infrastructure tower entities found upward momentum.