Finance

Global energy benchmarks eased after high-level geopolitical discussions offered potential relief for international fuel supplies. West Texas Intermediate futures fell to just over $91 per barrel, and Brent crude ticked downward to settle around $104 per barrel. This slight pullback alleviated broader market anxieties, even as overall energy costs remained stubbornly high due to shipping disruptions near the Strait of Hormuz.

The 10-year U.S. Treasury yield showed minimal movement at the end of the week, hovering just below 5.25% after recently hitting its highest level in over two decades. Bond markets are preparing for a temporary closure due to the upcoming federal holiday, leaving investors to shift focus toward major corporate earnings. High-profile reports from Wall Street's largest commercial banks are expected early next week to set the near-term economic tone.

Domestic consumer confidence fell sharply, especially among lower-income demographics least equipped to absorb persistent living costs. A preliminary survey from the University of Michigan revealed that consumers have increased their one-year inflation projections to 4.7%. This growing economic pessimism contrasts with robust corporate earnings expectations, highlighting a growing disconnect between financial market performance and household sentiment.