Finance

U.S. government bond yields initially dropped after the soft employment data signaled a cooler economic environment. Earlier in the week, the 10-year Treasury yield had surged to an intraday high of 5.342%, marking its highest level since April 2002. Shorter-term debt followed a similar pattern, with the 2-year Treasury note yield pulling back to 4.7% as immediate rate hike expectations moderated.

Shares of the athletic apparel manufacturer fell heavily at the end of the week, hovering near 12-year lows. The sell-off was triggered by a worse-than-expected first-quarter revenue announcement and a downcast fiscal year sales forecast. Underperformance was notably driven by steep sales declines in China and Taiwan due to stiff competition from cheaper, high-tech domestic brands.

Global energy markets experienced a slight reprieve as Brent crude futures stabilized around the $100 per barrel mark. Downward pressure on oil prices was reinforced by an agreement among G7 leaders to immediately release 100 million barrels of emergency diesel stockpiles. The diplomatic intervention helped counter persisting geopolitical anxieties, even as U.S.-Iran hostilities continue to pose a threat to regional supply lines.