Finance

While equity markets stabilized, investors continued to monitor the fluctuating conflict between the U.S. and Iran. This geopolitical uncertainty led to a 2% drop in West Texas Intermediate crude oil prices toward $72 a barrel on Thursday, which in turn helped ease pressure on Treasury yields.

Recent FOMC minutes indicate that the central bank, under new Chairman Kevin Warsh, likely will not implement interest rate cuts until 2027. With inflation trending at 4.2%, the market is now pricing in a high probability of additional rate hikes before the end of the year.

Bitcoin held steady near the $63,000 level as investor risk appetite returned despite ongoing geopolitical noise in the Middle East. Market sentiment was supported by reports that new digital asset legislation, the Clarity Act, may reach a Senate vote later this month.